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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • BNY Mellon Investment Management (CenterSquare Investment Management)
  • Management & Lovell Minnick Partners
  • Real Estate Managers
  • September 20, 2017
  • $9 Billion

Seller Details

CenterSquare is a global investment manager focused on actively managed real estate and infrastructure strategies. Founded in 1987, CenterSquare manages approximately $8.0 billion of real estate and infrastructure securities through CenterSquare Investment Management, Inc. and approximately $1.3 billion (gross) of private equity real estate investments through CenterSquare Investment Management Holdings, Inc. (together referred to as "CenterSquare"), as of June 30, 2017.  It manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors.

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.8 trillion in assets under management as of June 30, 2017. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. BNY Mellon Investment Management is a division of BNY Mellon which has $31.1 trillion in assets under custody and/or administration as of June 30, 2017. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

Buyer Details

Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. With offices in Philadelphia, Los Angeles, and New York, Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $1.7 billion in committed capital and has completed investments in over 30 companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services.

Transaction Summary

For BNY Mellon Investment Management, this transaction meets its strategy of streamlining its portfolio to provide a focused set of specialist investment solutions for clients via our global distribution network.  In partnership with Lovell Minnick, CenterSquare seeks to tap its new partner's resources and deep experience in investment management as it grows its business and further enhance the solutions that CenterSquare offers to our clients.
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