Macquarie’s subsidiary Delaware Investments is planning to acquire Bennett Lawrence Management, a US-based investment management firm with over $330n in assets under management.
Founded in 1995 by Van Schreiber and Jane Fisher, Bennett Lawrence serves institutional and individual investors.
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As part of the deal, Schreiber will join Delaware Investments as a senior portfolio manager, serving the firm’s all-cap growth clients, while Fisher will serve as the team’s investment specialist.
Also, Alexander Ely, chief strategist and portfolio manager at Bennett, will head the investment team as chief investment officer. The investment team will include senior equity analysts Dina Pliotis and Nate Mahrer, and equity analysts Amy Zhang and Traver Davis.
Ely will act as a co-portfolio manager on the all-cap growth strategy and continue to manage the small- and mid-cap growth strategies. He will report to Delaware Investments president Shawn Lytle as a member of the firm’s seventh boutique equity investment team.
Following the acquisition, Delaware Investments will provide separate accounts and asset management via sub-advisory relationships in the small and mid-cap growth space.
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By GlobalDataThe transaction is scheduled to complete during the first quarter of 2016. Financial terms of the deal have not been disclosed.
Lytle said: "The addition of this team allows us to offer more equity investment styles and solutions to clients and is a strong fit within our multiboutique equity structure."
Ely said: "We are looking forward to enjoying the benefits of the distribution and support infrastructure capabilities that are part of Delaware so we can focus on what we do best: build strong growth portfolios for our clients."
