Lovell Minnick Partners, a private equity firm focused on financial services, has signed an agreement to acquire a minority ownership stake in 361 Capital, a Denver-based alternatives firm.
361 Capital, an asset management firm specializing in liquid alternative investments, said that the strategic agreement is part of its comprehensive growth plans aimed at adding new funds through partnerships and expanding its unique distribution pipeline.
In addition, the US-based firm will team up with hedge fund managers and managers of alternative mutual funds, who will acts 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.
Commenting on the agreement, 361 Capital CEO Tom Florence said, "Lovell Minnick is a preeminent private equity firm with a long track record of successful investing in asset management businesses."
"The firm’s stake in 361 Capital strengthens our investment capabilities and positions us for significant growth."
Florence further explained that the ability to leverage Lovell Minnick’s deep relationships within the industry will enable 361 Capital expedite its expansion.
Lovell Minnick Partners chairman Jeff Lovell said that 361 Capital is well-positioned to capitalize on the long-term opportunities in liquid alternatives.
361 Capital was established in 2001 and specializes in providing alternative investment strategies to investors through highly liquid vehicles.