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.

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