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Laxman Pai, Opalesque Asia:

US private equity (PE) house Lovell Minnick Partners (LMP) has agreed to buy a majority stake in London & Capital, a specialist wealth and asset manager working with private and institutional clients.

As part of the transaction, London & Capital's management team will continue to lead the business and will retain a significant minority stake, said a company release.

London & Capital, overseeing GBP4.1 billion ($5.13 billion) of client money, has served at the forefront of London's wealth management sector for over 30 years, focusing on serving domestic and international high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals, including many who have US connections, and institutions.

According to a press release, London & Capital has grown its AUM, revenues, and profits strongly in the last five years, extended its services into Europe to support clients post-Brexit, and developed multiple new services and technology solutions for its expanding client base. The Company now serves over 800 private and institutional clients.

"We chose to partner with LMP because of the firm's excellent track record of working with management teams to scale and enhance wealth and asset management firms. Their deep experience in the space and our sense of shared values and culture align with our focus on providing exceptional service and experience for our clients," said Guy McGlashan, Chief Executive Officer at London & Capital.

"We are a......................

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