Track Record — Warren Enskat Group

In more than five decades of advisory work for asset managers, Warren Enskat Group has executed the great majority of its engagements under strict confidentiality. The numbers below summarize the firm’s cumulative track record. The selected engagements that follow are public record.

Team liftouts and boutique acquisitions completed since 199375+
AUM moved across our engagements$200B+
Institutional AUM transition rate on liftouts (frequently materially higher)50%+
Teams that have remained with the firm we placed them with100%

1990sThe pioneering work

1994

Cashman, Farrell & Associates → The Boston Company Asset Management

The firm’s first liftout. International equity team led by D. Kirk Henry and Sandor Cseh, then managing approximately $300 million for a PNC-owned boutique in Berwyn, Pennsylvania. Within a year, most of the assets followed; the strategy was subsequently scaled to $3 billion at Boston Company. The engagement is the deal that opened the institutional liftout as a recognized category in U.S. asset management.

1999

State Street Global Advisors → Deutsche Asset Management

Eight-person index team led by Dean Barr. One of the most closely-watched liftouts of the late 1990s, including subsequent litigation by State Street that was ultimately dropped. The transaction established the legal and operational playbook for defending liftouts against the tactics that defending firms had begun to deploy.

2000sEstablished practice

2002

Wachovia / Evergreen → Lazard Asset Management

Eight-person fixed-income team, originally from Offitbank, led by Steven Blitz. The team was placed at Lazard to build out its fixed-income capability following the integration of Offitbank into Wachovia’s fund unit.

2003

Northern Trust Global Investments → Neuberger Berman

Five-person growth equity team led by Jon Brorson, then managing approximately $3 billion. The team was placed at Neuberger Berman to take responsibility for three of the firm’s growth funds.

2000s

Selected ongoing client work

Multi-year advisory relationships with BNY Mellon Investment Management and UBS Global Asset Management on team additions, capability builds, and strategic reviews.

2010s & 2020sContinued execution

2020 – 2021

Allianz Global Investors → Virtus Investment Partners

Strategic partnership and team liftout in the U.S. retail market, structured during the COVID period. Approximately $33 billion in U.S. assets transferred, structured as $25 billion of sub-advisory and distribution partnership and an $8 billion liftout of NFJ Investment Group from Allianz Global Investors into Virtus as a new value equity affiliate.