Lord, Abbett & Co Discloses 15.23% Stake in J. Crew Group (JCG)
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In a 13G filing after the close on J. Crew Group (NYSE: JCG), Lord, Abbett & Co disclosed a 15.23% stake (9,320,746 shares) in the company. The firm did show a 4.18 million share stake in JCG at the quarter ended June 30, 2007. Lord, Abbett & Co more than doubled its stake in J. Crew. A 13G indicates a \'passive investment\'.
J. Crew Group, Inc. is an apparel and accessories brand that embraces a standard of style, craftsmanship, quality and customer service.
From its website: Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. As one of the oldest money management firms in the United States, we have consistently provided generations of clients and their financial advisors with a quality investment experience since 1929. The firm approaches our business as a craft, driven by core fundamentals: an unwavering discipline and commitment to a reproducible process; integrity that is as much an asset as the portfolios it manages; accountability for every decision the firm makes; dedication to the prudent stewardship of clients’ assets; and intellectual rigor across all aspects of Lord Abbett’s business. As a trusted steward, Lord Abbett today manages approximately $116 billion in assets.
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