Delaware Investment Advisors is in discussions with a new firm launched by Jude T. Driscoll, the former Delaware CEO who resigned last August, about a “possible transaction involving certain members” of Delaware’s taxable fixed-income team and related institutional business, said Delaware spokeswoman Ayele Ajavon. In recent months, industry watchers have speculated that Mr. Driscoll would soon reunite with the former Conseco fixed-income team he brought to Delaware Investments in 2000.
Ms. Ayele said the talks between Delaware and Mr. Driscoll’s new firm, Logan Circle Partners, are at a preliminary stage, and she declined to discuss which portfolio managers might be leaving Delaware. While declining to discuss details, Mr. Driscoll said in a telephone interview that he’s intent on building a diversified, institutionally focused asset management house. Logan Circle should start with a base of fixed income and large-cap equity strategies and “fill out around that,” said Mr. Driscoll. Both sides described their negotiations as friendly but declined to say when they might conclude.
