Delaware Investments has created a joint venture, called Jackson Square Partners (JSP), in partnership with its San Francisco-based Focus Growth team.
Delaware Investments, which has more than US$185 billion in assets under management as of 31 December 2013, and the members of the Focus Growth team will jointly own the new firm.
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Under the agreement, Delaware Investments will provide operational support to JSP while it builds out its operating infrastructure.
"The intent is that JSP will serve as sub-advisor to the Delaware Investments mutual funds and other pooled vehicles and separately managed accounts currently managed by the Focus Growth team, pending the appropriate approvals," Delaware Investments said in a statement.
It is expected that about US$17 billion in institutional assets could move to JSP once the transaction is finalized.
Also, all members of the Focus Growth team are expected to become part of the new venture, which will be based in San Francisco and led by Van Harte.
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By GlobalDataThe deal to form JSP is expected to close in late April 2014.
