Private Equity Firm to Buy Kanaly Trust

Kanaly Trust, a Houston wealth manager with approximately $2 billion in assets under management, announced it will be acquired by Lovell Minnick Partners, a private equity firm that provides buyout and growth capital to companies in the financial services industry.

  “We are excited to join with Lovell Minnick … as we continue to pursue the vision of outstanding and non-conflicted client service that my father believed in 37 years ago,” Drew Kanaly, Kanaly Trust's chairman, said in a statement. Jeff Kanaly, its vice chairman, added, “Lovell Minnick has the expertise and resources to help Kanaly Trust get to the next level, and it is comforting to know that Kanaly Trust has a succession plan that will benefit our clients and personnel for years to come.”  

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