Long Time Jennsion Co-Founder Sig Segalas Dies at 89
Posted on 01/03/2023
Spiros Segalas, also known as Sig Segalas, is the Co-Founder of Jennison Associates. He died at the age of 89.
He was a long-time portfolio manager overseeing a large-cap growth equity strategy. Segalas co-founded Jennison Associates in 1969 along with six others and managed Jennison client portfolios for more than five decades. Segalas began advising Harbor Fund’s flagship fund, the Harbor Capital Appreciation Fund (Investor Class), 21 years later.
Segalas graduated from Princeton University and then served as a U.S. Navy officer. Segalas started his investment career as a research analyst at Bankers Trust Co. in 1960, where he was responsible for technology, aerospace and conglomerates.
Kathleen McCarragher will continue to lead the large-cap growth equity team alongside Blair A. Boyer, the news release said. Jennison’s large-cap growth equity portfolios had US$ 56.1 billion in assets under management as of September 30, 2022, according to the company’s website.
Jennison Associates (then Jennison Associates Capital Corporation) was acquired by Prudential Financial Inc. (then The Prudential Insurance Company of America) on September 16, 1985 for US$ 80 million. At the time, The Prudential Insurance Company of America was one of America’s largest institutional money managers and Jennison overseas around US$ 15 billion in assets for corporate benefit plans, endowments, foundations, and other institutional clients.
Jennison Associates managed $164 billion in client assets as of September 30, 2022.
