Lovell Minnick Partners announced Monday it took a “significant” but undisclosed stake in Spanish investment firm Trea Asset Management.

The deal is the first entry into the Spanish market for El Segundo’s Lovell Minnick, which invests exclusively in the financial space. Firm president Steve Pierson said the stake in Trea was an important step in Lovell Minnick’s strategy.

“We are thrilled to partner with Trea and its talented management team in executing their growth plans,” Pierson said. “It is also gratifying to source our first proprietary investment in Spain, one of the key markets in Europe where we are seeing attractive growth opportunities in financial and business services.”

The deal continues Lovell Minnick’s active start to the year. The firm closed an investment in West L.A.’s Currency Capital last month along with three other deals in 2017.

Deals & Dealmakers reporter Henry Meier can be reached at hmeier@labusinessjournal.com. Follow him on Twitter @henry_meier.