- London & Capital is poised “for organic and inorganic growth in what are largely fragmented markets both locally and internationally,” said LMP partner Spencer Hoffman
- The target has provided wealth management services for 30 years
- London & Capital’s management team retains a significant minority stake
Lovell Minnick Partners, a private equity firm focused on financial services with offices in Philadelphia, Los Angeles, and New York, is acquiring a majority stake in London & Capital, a wealth manager based in London. The target’s management team is retaining a significant minority stake.
London & Capital has £4.1 billion ($5.1 billion) in assets under management. It has served clients for over 30 years. It has grown its AUM, revenues, and profits strongly in the last five years having extended its services into Europe to support clients post-Brexit.
Spencer Hoffman, Partner at LMP said of the investment, “London & Capital’s long-standing success and stability is a testament to their comprehensive and client-centric approach to wealth and asset management. Their excellent client relationships, strong culture and talented teams position them very well for organic and inorganic growth in what are largely fragmented markets both locally and internationally.”
“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.” said Guy McGlashan, Chief Executive Officer at London & Capital. “We are at an exciting point in our evolution as a firm, and attracting the private investment plus the operational support LMP offers, will allow us to expand our client solutions, grow internationally, invest in technology, and bring on new teams.”
Raymond James Financial International served as financial adviser to LMP.