Delta Asset Management to Link Up with Berkeley

October 21, 2004 ( - ING Investment Management has sold its Los Angeles-based Delta Asset Management division with approximately $4 billion of institutional assets to Berkeley Capital Management LLC.

A news release said the combination of Berkeley and Delta will employ 30 people and manage assets in excess of $5 billion serving primarily the managed account and institutional marketplaces. Delta’s operations will remain in Los Angeles as part of the new Delta division of Berkeley Capital Management, and all Delta employees will continue in their current roles.

“The decision to find a new partner for Delta was made in order to ensure a continued strategic focus of ING Investment Management’s resources on building our equity investment management capabilities in New York and Berkeley provides Delta the opportunity to grow its West Coast based business,” said ING Investment Management Chairman and Chief Executive Officer Bob Crispin, in the statement.