Delaware International Advisers management completed a $172 million buyout from parent Lincoln National Corp., and the manager will now be called Mondrian Investment Partners, said David Tilles, Mondrian's managing director and CIO. The deal was first announced in May. Sixty staff members now hold 54% of Mondrian's equity; previously, 20 staff members held 15%, Mr. Tilles said. Private equity firm Hellman & Friedman bought the remaining 46%.
Mondrian has $26 billion under management, including $4 billion in subadvised assets for Lincoln and its subsidiaries, up from $23 billion in May.