The venture, Wilton Capital Partners, Boston, is raising funds, confirmed Dan Cahill, a Wilton representative. He declined to comment further. Representatives of DuPont and SSgA referred all questions to Wilton.
But Gary Robertson, head of private markets group at Callan Associates, San Francisco, said the venture was being structured as a fund of funds that will have a strong weighting in buyouts. Wilton representatives have made a presentation to the consulting firm, he said.
DuPont has good track record in the private equity arena, Mr. Robertson said, speculating the Wilmington, Del.-based company wanted to take advantage of Boston-based SSgA's distribution and marketing capabilities.
DuPont Capital Management, which began managing the retirement plan assets for its parent company, E.I. du Pont de Nemours & Co., in 1980, started planning to expand its asset management services in 1998. It signed on its first external clients until late last summer. The clients, Conoco Inc. and Consol Inc., are DuPont spinoffs.
DuPont Capital, primarily a value manager, has picked up "modest new business," said Joe Haley, managing director of marketing and client services. He declined to identify new clients or assets under management.