New firm to be started by former leader of Turner

Stephen J. Kneeley, former president and CEO of Turner Investment Partners, plans to open his own asset management firm, Ardmore Investment Partners, in late November. Ardmore's investment strategy will target inefficient asset classes, such as domestic small-cap value, core and growth, as well as international small-cap equities, Mr. Kneeley said. He would not identify potential partners or investment professional candidates. Mr. Kneeley's personal wealth, along with assets of his friends and family, are among Ardmore's capital providers at this time. Mr. Kneeley left Turner last April. Robert E. Turner Jr., chairman and CIO of growth equities for Turner, took over Mr. Kneeley's CEO responsibilities, and Mark Turner, vice chairman, has taken on Mr. Kneeley's president duties, said Tucker Hewes, spokesman.