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Lovell Minnick takes minority stake in Trea Asset Management

Lovell Minnick Partners has taken an undisclosed stake in Spain-based money management firm Trea Asset Management, confirmed a spokeswoman for the private equity firm.

Details and the value of the investment were not disclosed, but a news release said Trea remains majority owned by its Carlos Tusquets, chairman and founder; Ramon Betolaza, vice chairman; and Antonio Munoz, CEO and chief investment officer.

The deal is Lovell Minnick’s first investment in Europe. The firm provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts and to pursue growth plans. Since inception in 1999, it has raised $1.7 billion in committed capital.

Trea has about €2.8 billion ($3 billion) in assets under management, and specializes in traditional and alternative asset classes. It manages mutual funds across equities, fixed income, balanced strategies and fund of funds.

The investment by Lovell Minnick will provide capital to support the continued growth of Trea, and to help to finance a deal to acquire Banco Madrid Asset Management, a €1.3 billion mutual fund money management firm.

“Trea’s management team has demonstrated unparalleled success in creating bank partnerships and developing unique products to meet growing demand from retail customers for higher-yielding investment options,” said Steve Pierson, president of Lovell Minnick Partners, in the release. “We are thrilled to partner with Trea and its talented management team in executing their growth plans. It is also gratifying to source our first proprietary investment in Spain, one of the key markets in Europe where we are seeing attractive growth opportunities in financial and business services.”