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Lord Abbett

Lord Abbett Parent Rating

Average

After tackling a five-year plan, Lord Abbett’s leaders are focused squarely on execution.

Doug Sieg, managing partner since April 2018, has gotten the firm on a better tack. Culture, a key issue, has improved based on survey feedback and employee retention, leaders say. Equity team churn has stabilized after a tumultuous period of reorganization and ongoing departures. The firm built internship and development programs to grow young investment talent and diversify its workforce. In 2023, Sieg took advantage of the retirements of legal and compliance leaders to name two new partners from outside the firm while also promoting from within to modernize the firm’s quantitative and risk-management team. He hired Steve Kuppenheimer from industry heavyweight Blackstone, also in 2023, to oversee private credit and the firm’s broader alternative investments business.

Execution is focused broadly across the firm, but two areas are notable. First is a push into credit, including four new interval funds, a vehicle that allows limited exits because it tends to hold less-liquid portfolios. Lord Abbett has thoughtfully stuck to its core competencies and been patient when launching new strategies historically. Here, the firm has moved decisively to build a team to support its credit ambitions, but it remains to be seen whether it will attract investors. Second, the firm’s efforts need to eventually lead to improved outcomes for investors. So far, performance writ large has only gotten worse, so more work is needed. Overall, Lord Abbett earns an Average Parent rating.

Lord Abbett Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

140.30 Bil

Investment Flows (TTM)

−12.15 Bil

Asset Growth Rate (TTM)

−8.33%

# of Share Classes

448

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