NEW YORK, April 27, 2012 /PRNewswire/ -- Dahlman Rose & Company, LLC, a leading investment bank specializing in natural resources, transportation, and other industries in the global supply chain, announced today that its parent company has entered into a definitive agreement to sell an additional $10 million of equity to affiliates of Lovell Minnick Partners LLC, a private equity firm that specializes in the global financial services industry. Dahlman Rose plans to use the proceeds for further expansion of its investment banking, research and institutional sales and trading platforms.
Lovell Minnick Managing Director Spencer Hoffman commented: "We are pleased to further extend our commitment to Dahlman Rose. The firm has continued to establish itself as a leader in its focus sectors and has grown considerably since our initial investment. The Company offers a clearly differentiated suite of investment banking, advisory and trading services that meet the growing needs of its corporate and institutional clients. We remain enthusiastic about this partnership and are pleased to be in a position to support the Company's growth prospects."
Kim Fennebresque, Chairman and Chief Executive Officer of Dahlman Rose stated: "We are pleased to receive the continued support from our partners at Lovell Minnick, and their follow-on investment speaks to their level of commitment to our platform. Having received approval by the Investment Industry Regulatory Organization of Canada, we anticipate increased activity in Canada. With Lovell Minnick as our partner, we will continue to establish ourselves as an important franchise in our focus sectors."
Lovell Minnick Partners is actively investing Lovell Minnick Equity Partners III LP which closed in January 2010. This $455 million partnership has completed four investments to date and is focused on investments in various financial segments, including asset management, financial planning, financial product distribution, specialty finance, securities brokerage, banking, outsourcing providers and related companies specializing in administration services.
ABOUT DAHLMAN ROSE & CO.
Dahlman Rose & Co., LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on energy, transportation, infrastructure, and other industries that compose the global supply chain. The firm's industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose provides institutional sales and trading, equity research, mergers and acquisitions advisory, and underwriting services. For more information regarding Dahlman Rose, please visit www.drco.com.
ABOUT LOVELL MINNICK PARTNERS
Lovell Minnick Partners LLC is a management-owned private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in Los Angeles and Philadelphia, Lovell Minnick manages private equity partnerships totaling $800 million on behalf of qualified private and institutional investors. For more information regarding Lovell Minnick Partners and its portfolio companies, please visit www.lovellminnick.com.
SOURCE Dahlman Rose & Company