The remaining 30% of Friess equity will be controlled by 11 members of that firms' staff, including founder Foster Friess and chief investment officer Bill D'Alonzo. Friess has said he will invest a substantial portion of proceeds from the sale in the Brandywine Funds, making him the largest shareholder in each fund that bares the Brandywine name.

Friess Associates was founded in 1974 and now has offices in Greenville, Del., Wyoming and Arizona. In addition to overseeing the Brandywine fund, the firm also advises two other growth equity funds as well as separate accounts for foundations, corporations and high-net-worth individual investors.

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