361 Capital, an asset management firm specialising in liquid alternative investments, has entered into a strategic partnership with private equity firm Lovell Minnick Partners.
Lovell Minnick Partners will assume a minority ownership stake in the Denver-based alternatives firm. Transaction terms have not been disclosed.
“Lovell Minnick is a preeminent private equity firm with a long track record of successful investing in asset management businesses,” says Tom Florence, CEO of 361 Capital. “The firm’s stake in 361 Capital strengthens our investment capabilities and positions us for significant growth.”
361 Capital recently announced a comprehensive growth strategy aimed at adding new funds through partnerships and expanding its distribution pipeline. The firm plans to partner with hedge fund managers and successful managers of alternative mutual funds, who will serve 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.
Jeff Lovell, chairman of Lovell Minnick Partners, says: “We are very excited about the growth potential for liquid alternatives. 361 Capital has a management team with a unique combination of proven success in alternative investing and considerable experience with mutual fund distribution. This gives us great confidence in their ability to execute their business plan and become a leader in the space, and we are pleased to partner with them in supporting their growth.”
