Driehaus Capital Management

Driehaus Capital Management

Driehaus Capital Management launched in 1982 when founder Richard Driehaus formalized a distinctive growth investing approach that had drawn attention during his tenure at A.G. Becker. The firm's identity rests on the 'Driehaus method' — identifying companies with accelerating earnings growth and positive price momentum while maintaining rigorous sell discipline. The late Driehaus, who passed in 2021, was a prominent Chicago investor and philanthropist whose name also marks the Driehaus Museum and the Driehaus College of Business at DePaul University. The firm manages concentrated growth equity portfolios across the market-cap spectrum, from micro-cap to large-cap strategies. Its core products include US-focused small-cap, micro-cap, and mid-cap growth mandates — all running high-active-share books with turnover rates that reflect the momentum philosophy. Geographic coverage extends beyond the United States; Driehaus also fields an emerging markets growth strategy, historically led by veteran portfolio managers deploying the same behavioral timing framework to developing-economy equities. The firm primarily operates as a long-only public equities manager and has not notably expanded into private markets, credit, or direct co-investment structures. Headquartered in Chicago, Driehaus maintains investment and distribution offices in New York, Dallas, San Francisco, Larkspur, Boston, and Zurich. Team size and total assets are not publicly disclosed, but the firm has historically been estimated by industry observers to manage between $5 billion and $15 billion in regulatory filings and press accounts. A significant portion of assets is managed via the Driehaus Mutual Funds, a series of no-load funds that offer institutional and retail access to the firm's core strategies. The firm's institutional client base includes corporate pension plans, endowments, foundations, and sub-advisory relationships. Driehaus stands apart from peers through its behavioral risk management framework. The sell process is driven by relative strength signals rather than valuation ceilings, creating a portfolio construction engine that systematically cuts losers while letting winners run. This moved the firm away from traditional fundamental-value anchors long before quantitative momentum strategies proliferated across the asset management industry. Following Richard Driehaus's death, leadership transitioned to a team of named portfolio managers operating under the firm's established investment committee structure.