Lord Abbett
| Company type | Private limited liability company |
|---|---|
| Industry | Investment management |
| Predecessor | Lord, Westerfield & Co., Inc. |
| Founded | November 18, 1929 in New York City, United States |
| Founder | Andrew James Lord, Leon Abbett, John R. Westerfield, Julian B. Beaty |
| Headquarters | Jersey City , United States |
Area served | Global |
Key people | Douglas B. Sieg (Managing Partner) |
| Products | Mutual funds, separate accounts, sub-advised accounts, commingled funds, managed account platforms |
Number of employees | 184 (2023) |
| Website | www |
Lord, Abbett & Co. LLC operates as an independent, privately owned investment management company headquartered in Jersey City, New Jersey, with additional offices located in Dubai, Dublin, London, Montevideo, Singapore, Tokyo, and Zurich.
History
Established on November 18, 1929, by Andrew James Lord, Leon Abbett, John R. Westerfield, and Julian B. Beaty shortly following the Wall Street crash of 1929, the firm originally bore the name Lord, Westerfield & Co., Inc., situated near the New York Stock Exchange. After the Westerfields exited in 1931 and Leon Abbett injected new capital, the company was renamed Lord, Abbett & Co. and moved its location to 63 Wall Street.
In 1932, Lord introduced American Business Shares—currently known as the Lord Abbett Income Fund—and two years later launched the Lord Abbett Affiliated Fund. The firm expanded its reach by opening a Los Angeles office in 1937 and played a role in shaping the Investment Company Act of 1940.
During the 1970s, the company achieved significant product milestones with the 1971 debut of the Lord Abbett Bond Debenture Fund—one of the pioneering multi-sector fixed-income funds—and began managing pension funds in 1975. The institutional division was initiated in 1976 with a large-cap value offering. By 1983, assets under management (AUM) had increased from $2 billion in 1975 to $4.5 billion.
In 1987, headquarters relocated from Wall Street to New York City's General Motors Building. Confronted with slower expansion during the early 1990s, the firm underwent restructuring and declined acquisition proposals under Managing Partner Robert Dow, who broadened product lines to include international and large-cap growth funds. Dow also orchestrated the move to Jersey City in 2000. Under his guidance, AUM rose from $17 billion in 1996 to beyond $100 billion by 2007.
Daria Foster took over as managing partner in 2007 and retired in 2018, handing leadership to Douglas B. Sieg, who had been part of Lord Abbett since 1994 with experience in sales and product strategy.
In 2024, Lord Abbett transitioned its Jersey City headquarters from 90 Hudson Street to new premises at 30 Hudson Street.
By December 31, 2024, Lord Abbett oversaw roughly $217 billion in assets: $31 billion allocated to Equity, $181 billion to Fixed Income, and $5 billion across Alternatives within its global investment offerings.
On February 27, 2025, Barron's ranked Lord Abbett as the top firm among Barron’s Best Fund Families for 2024.
Description
Lord Abbett is a privately held limited liability company employing 184 investment specialists as of December 2023. The firm manages mutual funds that invest in both global and domestic equities, fixed income securities, tax-exempt income instruments, and multi-asset portfolios. In 2019, it expanded its equity lineup by adding three new funds. The company exclusively offers actively managed strategies through separate accounts, sub-advised accounts, commingled funds, mutual funds, and managed account platforms.
Notable funds include the Lord Abbett Income Fund (focused on high-quality bonds), Lord Abbett Affiliated Fund (targeting large-cap dividend-paying equities), Lord Abbett Bond Debenture Fund (investing in below-investment-grade bonds), Lord Abbett Developing Growth Fund (small-cap equities), Lord Abbett Mid Cap Stock Fund (high-growth mid-cap companies), and a Climate Focused Bond Fund dedicated to issuers emphasizing ESG principles.
International offerings
In May 2014, Lord Abbett introduced UCITS funds aimed at granting institutions and investors outside the United States access to selected investment strategies. These funds are traded on the Irish Stock Exchange.
External links
- Lord Abbett Mutual Fund by Family
- Lord Abbett Bond Debenture A: Portfolio Details – MSN.money
- Lord Abbett Capital Structure R2 (LAMQX) – Yahoo! Finance
- Filife
- Investment management companies of the United States
- Companies based in Jersey City, New Jersey
- Financial services companies established in 1929
- Financial services companies based in New Jersey
- 1929 establishments in New York City
- 1929 establishments in the United States
- Companies established in 1929
- Asset management companies