Everyone Scrambles to Find Out What’s In Their Portfolio, From War to Fossil Fuels, Says Main Line’s Lovell Minnick Partners
STP Investment Services, a company in West Chester that tracks clients’ asset values, including those in held in Russia, has received backing from Radnor investment firm Lovell Minnick Partners for its expansion, writes Joseph N. DiStefano for The Philadelphia Inquirer.
Lovell Minnick Partners focuses primarily on fast-growing financial service technologies.
“For the last two weeks, everyone is scrambling to find out what is in their portfolio,” said Spencer Hoffman, partner at Lovell Minnick. “That level of transparency is the future of asset management – not only when there’s war in Eastern Europe, but when clients demand to know their ‘carbon footprint,’ their exposure to fossil fuels,” and the impact other public issues have on investment assets.
The company is betting on this future by investing an undisclosed sum in STP, a 250-employee firm run by its founder, Patrick Murray. It serves clients with over $300 billion invested from its offices in West Chester and Bengaluru, India.
STP’s BluePrint software platform collects, processes, and presents ever-changing asset valuations for various types of investments, from both the investors who own them as well as from outside sources.
Read more about the backing from Lovell Minnick Partners on the Main Line in The Philadelphia Inquirer.
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