Boston, MA (PRWEB) September 20, 2017
Congress Asset Management (“Congress”) is pleased to announce the completion of its acquisition of Century Capital Management’s (“Century”) investment management business. The transaction represents over $500 million in assets under advisement, provides Congress with a small cap growth mutual fund, economies of scale for its large cap growth mutual fund, and expands the firm’s investment capabilities into small cap value.
Century’s Managing Partner and Portfolio Manager Alexander “Lanny” Thorndike; Partner and Portfolio Manager Jeffrey Kerrigan, CFA; and Partner and Equity Research Analyst Eric Meyers, CFA will be joining Congress as part of the transition.
Mr. Thorndike, who manages large and small cap growth portfolios at Century, will join Congress as Executive Vice President and Portfolio Manager, and become a member of the Large, SMID, and Small Cap Growth Investment Policy Committees as well as the firm’s Management Committee. Mr. Thorndike joined Century in 1999 and has more than 26 years of investment experience.
Mr. Kerrigan, who manages small cap value portfolios at Century, will join the firm as Vice President and Portfolio Manager for Small Cap Value, a new and diversifying mandate for Congress. Mr. Kerrigan joined Century in 2014 and has more than 22 years of investment experience.
Mr. Meyers will become a Research Analyst at Congress, where he will cover Consumer Discretionary and Consumer Staples sectors. Mr. Meyers joined Century in 2011 and has more than 16 years of industry experience.
Century’s large cap growth mutual fund, the Century Shares Trust, has been reorganized into the existing Congress Large Cap Growth Fund, while its small cap growth mutual fund, the Century Small Cap Select Fund, has been reorganized into the newly created Congress Small Cap Growth Fund.
About Congress Asset Management
Founded in 1985, Congress Asset Management is an SEC registered, employee‐owned, investment management firm based in Boston, MA. With more than $9 billion in assets under advisement, Congress specializes in diversified portfolios for institutions and high net worth individuals. The firm has 51 employees on staff and offers a variety of equity and fixed income investment strategies.