Lovell Minnick Partners has promoted Spencer Hoffman to the position of managing director. He originally joined the private equity firm after serving as a principal with Safeguard Scientifics and an associate with Mellon Ventures.
Lovell Minnick Partners LLC, an independent private equity firm providing buyout and growth capital to companies in the financial services industry, is pleased to announce the promotion of Spencer P. Hoffman to Managing Director effective January 1, 2010.
As Managing Director, Mr. Hoffman, 36, serves on the Investment Committee of Lovell Minnick Partners, which has offices in the Los Angeles and Philadelphia areas and is responsible for managing the firm’s private equity partnerships totaling over $750 million. The Lovell Minnick Partners Investment Committee includes Jeffrey D, Lovell, Chairman and Managing Director; James E. Minnick, President and Managing Director; Jennings (Jay) Newcom, General Counsel and Managing Director; Robert M. Belke, Managing Director; and Mr. Hoffman.
Mr. Hoffman has led the due diligence and analysis in several Lovell Minnick investments and has worked closely with a number of the firm’s portfolio companies. Prior to joining the company, Mr. Hoffman was a Principal at Safeguard Scientifics and before that he served as an Associate with Mellon Ventures. Mr. Hoffman started his career in Merrill Lynch’s Global Investment Banking Group.
“Spencer is a highly valued member of our team and his promotion to Managing Director is well-deserved,” said James Minnick. “Spencer has added significant value to our firm and to our portfolio companies since he joined us in early 2007.”
Mr. Hoffman is a member of the Board of Directors of Lovell Minnick portfolio companies ALPS Holdings Inc and Leerink Swann Holdings LLC. He received his MBA from the Wharton School of Business and has a Bachelor of Arts from Brown University. Mr. Hoffman also is the incoming Co-President of Wharton Private Equity Partners, an organization for Wharton and University of Pennsylvania alumni working in the private equity, private debt, and venture capital industries.
About Lovell Minnick Partners
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 the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $750 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, investment banking and securities brokerage, commercial and trust banking, and financial consulting. For more information regarding Lovell Minnick Partners visit www.lovellminnick.com.