Lovell Minnick Partners, a private equity firm concentrated on investments in financial services, technology, and business services, has made a growth investment in STP Investment Services, an end-to-end technology-enabled investment operations service provider.
STP delivers technology-enabled outsourcing services to clients including investment managers, funds, family offices, wealth managers, and plan sponsors. As of the time of the deal, the firm supports over $340 billion in total assets. The firm makes use of its technology platform, BluePrint, to provide clients with scalability and a customized plan for individual needs.
“We have a long track record of successful partnerships with high-growth, technology-driven companies run by proven, dynamic management teams with client-first attitudes,” said Spencer Hoffman, partner at LMP. “We believe STP fits this profile perfectly. Anticipating their customers’ near- and long-term needs, STP continuously innovates. They use their technology and global footprint to put clients first, and it shows in the success they’ve had.”
Raymond James served as financial advisor, and Fox Rothschild served as legal advisor, to STP. Schulte, Roth & Zabel and Nishith Desai Associates served as legal advisors to LMP.