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Morgan Stanley Credit Partners Provides Mezz Loan, Co-Investment for H.D. Vest Takeover

Morgan Stanley Credit Partners said Tuesday that it provided a $43 million mezz loan to support Parthenon Capital’s and Lovell Minnick’s buy of H.D. Vest Financial Services. Morgan Stanley Credit Partnes also co-invested in the deal. Earlier this month, Parthenon and Lovell completed their buy of H.D. Vest.


Morgan Stanley Credit Partners today announced it has provided a $43 million mezzanine loan to help finance the acquisition of H.D. Vest Financial Services by Parthenon Capital Partners and Lovell Minnick Partners. As part of the transaction, Morgan Stanley Credit Partners also completed an equity co-investment in H.D. Vest. Founded in 1983 and based in Irving, Texas, H.D. Vest provides independent financial solutions to over 1.8 million retail investors through an advisor base of over 4,800 securities-licensed tax professionals.

Morgan Stanley Credit Partners invests primarily in fixed income securities issued by middle market companies in the context of leveraged buyouts, debt refinancings, acquisitions and recapitalizations across a broad range of industry sectors.

“Morgan Stanley Credit Partners is pleased to be working with Parthenon Capital Partners and Lovell Minnick Partners on their acquisition of H.D. Vest,” said Steven Shekane, Executive Director, Morgan Stanley Credit Partners. “We are excited to be able to support H.D. Vest’s transition to independent ownership and believe the company is well-positioned to capitalize on the growing demand for financial advice to the mass affluent market.”

Morgan Stanley Credit Partners, part of Morgan Stanley Investment Management, invests in corporate debt securities issued by middle market companies. With approximately $1 billion in capital under management, Morgan Stanley Credit Partners’ experienced investment professionals bring significant expertise in origination, structuring, credit analysis and principal investing in the leveraged finance markets. Based in New York, the team focuses on deploying capital in North America and Western Europe. For further information about Morgan Stanley Credit Partners, please visit

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries. For further information about Morgan Stanley, please visit