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 Delawares taxable fixed-income team and related institutional business, said Delaware spokeswoman Ayele Ajavon. In recent months, industry watchers have speculated that Mr. Driscoll would reunite with the former Conseco fixed-income team he brought to Delaware Investments in 2000.
The discussions were first reported Monday afternoon on Pensions & Investments website, www.pionline.com.
Ms. Ayele said talks between Delaware and Mr. Driscolls 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 hes 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.