Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:PE Shop Acquires Fund Servicer Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 9, 2005

PE Shop Acquires Fund Servicer

Reported by Theresa Sim

Lovell Minnick, a private equity firm with offices in New York and Los Angeles, has acquired a supermajority stake in fund administrator and back-office support firm Alps Financial Services.

Alps' 90 Denver, Colorado-based employees, including president Edmund Burke, will continue to work for the company. Founder and chairman W. Robert Alexander, however, will retire from management of the company. He will remain on the board of directors and serve as a board trustee for Alps' funds.

Alps provides administration for $10 billion in assets, including the QQQ, SPDRs, BLDRs, Bridgeway Funds, WestCore Funds and Wasatch Funds.

Jeffrey Lovell, managing director of Lovell Minnick, declined to disclose the price tag and the exact percentage of Lovell Minnick's stake but said that it was greater than 75 percent.

"One of the areas that we believe has great promise is .. outsourced providers," said Lovell. He said that Lovell Minnick had come into contact with Alps' management over the years and watched the company "growing strongly."

Lovell Minnick's investment in Alps is the first holding for the private equity firm's newly raised 10-year fund, said Lovell.

Lovell Minnick also counts SMA provider AssetMark in its portfolio, as well as asset managers Westcap Investors, Berkeley Capital Management, Denali Advisors and Shenandoah Asset Management.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use