STP Investment Services, a Philadelphia, PA-based end-to-end, technology-enabled investment operations service provider that supports more than $340 billion in total assets, received a growth investment from Lovell Minnick Partners, a private equity firm focused on investments in financial services, financial technology and related business services.
Terms of the deal were not disclosed.
This investment will enable STP to accelerate ongoing investments in innovation, technology, workflow, and talent. STP plans to advance its organic growth initiatives while also accelerating its strategy of pursuing M&A opportunities in the future.
STP provides technology-enabled outsourcing services to a broad array of firms, including investment managers, funds, family offices, wealth managers, and plan sponsors. STP acts as an extension of their middle- and back-office teams to expand their resources and alleviate operational burdens. Through BluePrint, the firm’s technology platform, serving institutional and wealth management clients, the company provides clients with scalability and a customized experience suited to their individual business needs.
Founded in 2008 and led by Patrick Murray, Chief Executive Officer, STP has grown and expanded globally. In addition to its headquarters in Philadelphia, the company opened offices in Bengaluru, India in 2014 to provide continuous client service. More recently, STP completed the acquisition of AlphaOne Capital (2019) to increase its trading, compliance and emerging manager services. In addition, in 2020, STP completed the acquisition of Accusource to expand its services to registered investment advisors (RIAs), family offices and asset managers. At the end of 2021, the STP acquired third-party fund administrator Tower Fund Services, providing STP clients with a turnkey fund administration platform.
As a result of LMP’s investment in STP, members of the Philadelphia-based firm will join STP’s board, with Murray and the leadership team remaining in place.
FinSMEs
10/03/2022