The private-equity firm Lovell Minnick Partners has invested $50 million in TriState Capital Holdings in Pittsburgh.
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Jim Minnick, president and managing director of Lovell Minnick, has joined the board for TriState Capital Bank, the companies said Tuesday. Both companies are privately held and additional terms of the investment were not disclosed.
TriState was launched in 2007 with more than $100 million. It has grown into a $1.8 billion-asset company with locations in Pittsburgh, Philadelphia, New York, Cleveland and Princeton, N.J. The bank serves middle-market businesses, professionals and high-net-worth individuals.
William Schenck, TriState's president, has said that the bank intends to
