ING Investment Management Americas acquired institutional money manager Delta Capital Management, said Cindy Schaus, ING spokeswoman. Terms were not disclosed. Delta Capital manages $275 million for institutions and high-net-worth individuals using an active domestic large-cap value style. Deltas assets and clients will be taken over by ING.
Deltas portfolio management team, led by William Coughlin with portfolio managers Jonathan Kay, Anthony Cavlov and Michael Hemberger, will be the new large-cap value team at ING and report to Rick Nelson, CIO at ING Investment Management Americas, Ms. Schaus said. Thomas Jackson, the previous head of INGs large-cap value team, is leaving to pursue other opportunities, she said.