Lovell Minnick Partners has acquired a minority ownership stake in 361 Capital. No financial terms were disclosed. Based in Denver, 361 Capital is an asset management firm that specializes in liquid alternative investments.
DENVER, June 10, 2014 – 361 Capital, an asset management firm specializing in liquid alternative investments, announced today that it has entered into a strategic partnership with Lovell Minnick Partners, a private equity firm focused on financial services. Lovell Minnick Partners will assume a minority ownership stake in the Denver-based alternatives firm. Transaction terms were not disclosed.
“Lovell Minnick is a preeminent private equity firm with a long track record of successful investing in asset management businesses,” said Tom Florence, CEO of 361 Capital. “The firm’s stake in 361 Capital strengthens our investment capabilities and positions us for significant growth.” Mr. Florence added that the ability to leverage Lovell Minnick’s deep relationships within the industry will help to accelerate 361 Capital’s expansion.
361 Capital recently announced a comprehensive growth strategy aimed at adding new funds through partnerships and expanding its unique distribution pipeline. The firm plans to partner with hedge fund managers and successful managers of alternative mutual funds, who will serve as sub-advisors to the new funds. Distribution will be carried out through a hybrid strategy that leverages marketing automation, technology and a strong sales force, with a focus on reaching registered investment advisors.
Jeff Lovell, Chairman of Lovell Minnick Partners, said 361 Capital is well-positioned to capitalize on the long-term opportunities in liquid alternatives. “We are very excited about the growth potential for liquid alternatives,” said Mr. Lovell, who added, “361 Capital has a management team with a unique combination of proven success in alternative investing and considerable experience with mutual fund distribution. This gives us great confidence in their ability to execute their business plan and become a leader in the space, and we are pleased to partner with them in supporting their growth.”
About 361 Capital
361 Capital is an asset management firm specializing in liquid alternative investments. Founded in 2001, the firm is a pioneer in delivering innovative alternative investment strategies to investors through highly liquid vehicles. 361 Capital specializes in managed futures, long/short equity, multi-strategy, and global macro strategies, accessible through mutual funds, limited partnerships, and separate accounts. The firm distributes its products through investment advisors and institutions. For more information, call 866-361-1720 or visit www.361capital.com.
About Lovell Minnick Partners LLC
Lovell Minnick Partners LLC is an independent, management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Philadelphia and Los Angeles, Lovell Minnick manages private equity partnerships that have raised over $1.1 billion in committed capital. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, securities brokerage, financial consulting services, banking, specialty finance, and specialized outsourcing solutions. For more information regarding Lovell Minnick Partners, call 610-995-9660 or visit www.lovellminnick.com.