Lovell Minnick announces new leadership roles and promotions


Lovell Minnick Partners has named Steven Pierson and Robert Belke as managing partners. Also, the private equity firm has promoted Brad Armstrong, Jason Barg and Trevor Rich to partner and Saurabh Desai and Scott Shebelsky to principal.

PRESS RELEASE

PHILADELPHIA, LOS ANGELES, NEW YORK – January 18, 2018 – Lovell Minnick Partners (LMP), a private equity firm specializing in the financial and business services sectors, today announced a series of leadership team and new Partner appointments designed to further evolve its management and governance structure and to address continued firm growth over the long-term.

Steven Pierson and Robert Belke have been named Managing Partners of LMP, with responsibility for managing the business day-to-day, overseeing finance, operations, and investor relations, and continuing to grow the team and resources over time. Pierson will Chair the newly-created Management Committee that includes Partners Robert Belke, John Cochran and Spencer Hoffman. Belke has been appointed Chairman of the firm’s Investment Committee, which includes the Management Committee members as well as Co-Founders Jeffrey Lovell and James Minnick, who will continue in their current roles as Co-Chairmen.

“These changes ensure the successful continuity of our strong financial and business services franchise through a new leadership structure that positions LMP for further growth over the next 20 years,” said Lovell. “They will improve our organizational management processes, better align the firm’s decision-making resources, and strengthen our teamwork culture.”

Three New Partners Named
LMP also announced the promotion of Brad Armstrong, Jason Barg and Trevor Rich to Partner. The three executives had most recently served as Principals and have each been with the firm eight years. The firm simultaneously named Saurabh Desai and Scott Shebelsky as Principals.

“As we approach the start of our third decade as a firm, we are pleased to recognize the invaluable contributions our investment professionals have made to our success,” said Minnick. “Congratulations to our newly promoted Partners and Principals. We are also very pleased to expand the roles of Steve and Bob. Their years of complementary industry experience, investing acumen, business building capabilities and managerial skills will support our growth for years to come.”

“We share Jeff and Jim’s vision for building upon LMP’s success as a pre-eminent private equity investor in middle market financial and business services companies,” said Pierson. “With the implementation of our expanded leadership structure we will be better able to support our continued investment success.”

“These promotions and organizational changes enhance our ability to identify and invest in proven management teams of growing, dynamic companies in the financial and business services sectors for the benefit of our investors,” added Belke. “The contributions of Brad, Jason, and Trevor have been invaluable to LMP, and we welcome them to the partnership.”

New Managing Partners
Pierson joined LMP in 2016 and opened its New York office. He serves as a member of the Board of Directors of Engage People, Global Financial Credit, and Trea Asset Management. Steve joined the firm from UBS, where served as the Head of FIG Investment Banking Americas and Global Head of Financial Technology & Services. Prior he was at Credit Suisse and previously spent 12 years at Putnam Lovell, preceding Lovell Minnick’s founding.

Belke joined LMP in 2000, one year after the firm’s inception and is resident in the Los Angeles office. He serves on the Board of Directors of Tortoise Investments, J.S. Held, Worldwide Facilities and Keane Holdings. He has spent most of his career with LMP, where he has been involved with helping to build and accelerate the growth of many of the firm’s portfolio companies during the past two decades.

New Partners
Armstrong joined the Philadelphia office of LMP in 2009 and serves on the Board of Directors of Tortoise Investments, LSQ Funding and Commercial Credit, Inc. Prior to joining LMP, he was part of the Financial Institutions Group at Bank of America Merrill Lynch, where he focused on M&A and capital raising transactions for the firm’s investment banking clients.

Barg joined the Philadelphia office of LMP in 2010 and serves on the Board of Directors of J.S Held and CenterSquare Investment Management. Prior to LMP, he was a part of the Goldman Sachs’ Financial Institutions Group, where he focused on M&A and capital raising transactions for the firm’s investment banking clients.

Rich joined the Los Angeles office of LMP in 2010 and serves on the Board of Directors of Worldwide Facilities and Keane Holdings. Prior to LMP, he was on the corporate development team at Morgan Stanley and participated in the evaluation and execution of strategic transactions.

New Principals
Desai joined the Philadelphia office of LMP as an Associate in November 2006, and re-joined the firm in June 2012 as a Senior Associate following a two-year hiatus to obtain an MBA. He has worked on several important transactions including LMP’s investments in CenterSquare Investment Management, Trea Asset Management, and Lincoln Investment Planning.
Shebelsky joined the Philadelphia office of LMP in 2016 from Preferred Sands, where he served most recently as Director, Corporate Development. He is a CPA and, prior to Preferred Sands, was a Senior Consultant with Deloitte Tax.

About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm investing in middle market companies in financial services and business services. With offices in Philadelphia, Los Angeles and New York, LMP applies its deep domain expertise in these sectors to drive investment outcomes. Since its inception in 1999, LMP has become a leader in its chosen space, raising $1.75 billion of committed capital from leading institutional investors including public and private pensions, insurance companies, endowments and foundations. Some of the areas in which the firm specializes include asset management, wealth management, outsourced services, financial and insurance technology, product distribution, insurance brokerage and services, and specialty finance. To date, the firm has completed more than 45 portfolio company investments. For more information, please visit www.lmpartners.com.

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