Turner: We're hiring, will rebuild staff of 100 (Update)

The investment group run by veteran stock-picker Robert E. Turner has left its longtime 40,000-square foot home in the Westlakes office center north of Berwyn, and moved to an updated 18,000-sf office at Equus Capital Partners' 1000 Chesterbrook Blvd. just south of the Valley Forge park. 

In a statement, chief operating and complaince offier Robert Baird promised "an exciting phase of growth and renewal." In an offering to prospective investors, Turner said he hoped to boost assets to more than $10 billion by 2018, while boosting revenues, from less than $5 million before the Veracen deal, to nearly $75 million by 2021.

The firm plans to recruit client service, technology and operations staff between now and next summer, and says the new space will accomodate 100 when it is built out.

At its peak in the mid-2000s, Turner and his staff managed $30 billion for mutual funds, retirement plans and labor unions, but had shrunk to around $380 million last Spring, with many professionals departing. Turner this summer reorganized his operation as Turner Investments LLC, merged it with Michael Kennedy's Radnor-based Veracen LP, recruited an expanded investment and support staff, and began seeking new investors. Assets now total $800 million. More on Turner's reorganization here.