Shawn Lytle and his team are acquiring a 20-year-old domestic growth manager in New York City.

Shawn Lytle Delaware Investments President

Lytle, president of Philadelphia-based Delaware Investments [profile], confirms that in the first quarter of 2016 the Macquarie subsidiary will buy Bennett Lawrence Management, which had more than $330 million in AUM as of September 30. Bennett Lawrence Founders Jane Fisher and Van Schreiber will both join Delaware as part of the deal, Fisher as the team's investment specialist and Schreiber as a senior PM. Bennett Lawrence will be Delaware's seventh equity investing boutique.

Bennett Lawrence's Alexander Ely will lead the team as chief investment officer, reporting to Lytle. Other members of the team include equity analyst Traver Davis, senior equity analyst Nate Mahrer, senior equity analyst Dina Pilotis, and equity analyst Amy Zhang. Ely will co-PM the all-cap growth strategy and PM the small-cap growth and mid-cap growth strategies. Under Delaware, the Bennett Lawrence team will continue to do subadvisory work and offer separate accounts.

Lytle describes Bennett Lawrence as "a strong fit" in Delaware's "multiboutique equity structure."

As of September 30, Delaware had $165 billion in AUM, and all of Macquarie had $354 billion.

The Australian Financial Review (Macquarie is an Australia-based multinational), the Philadelphia Business Journal, the Philadelphia Inquirer, and Pensions & Investments all covered the deal. 

Edited by: Neil Anderson, Managing Editor


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