Macquarie Group has agreed to acquire Delaware Investments diversified asset management firm from Lincoln Financial Group for $US428 ($A516) million. With this, combined assets under management (AUM) of Macquarie and Delaware are expected to be over $US300 ($A361) billion.
This is part of Macquarie’s strategy to develop a global asset management capability through a team of investment professionals with an attractive suite of investment products and broader access to the world’s largest capital market. Delaware diversified asset management firm has over $US125 ($A150) billion in AUM and provides investment services to retail and institutional investors through a broad range of managed accounts, separate accounts, mutual funds, retirement accounts, sub-advised funds, and other investment products.
According to Shemara Wikramanayake, Global Head of Macquarie Funds Group, “Macquarie has a long and successful history in asset management. Since 1980 our asset management activities have grown both organically and through the addition of specialist asset management teams. From that strong base and given current opportunities in the market, we feel now is an ideal time to expand our reach and offering as an asset manager….We have a high regard for the Delaware team and are delighted to have them join us. Delaware will form a key element of Macquarie Funds Group’s offering to our clients globally and will significantly enhance our existing North American asset management activities.
The acquisition of Delaware is a demonstration to our clients of the ongoing commitment we have to developing a global asset management capability with significant scale, product depth, research and investment capacity.”
According to Patrick Coyne, President of Delaware Investments, “We are very excited about the opportunities this transaction presents. Like Delaware, Macquarie is firmly committed to both the institutional and retail asset management business….Macquarie is the perfect partner for us. They are strong supporters of Delaware’s investment teams and their processes, our management team and our multi-boutique structure. Macquarie’s desire to invest in and grow our product and distribution capabilities will be well received by our clients and our people.”
Macquarie Funds Group is a full service fund manager with over 25 years experience thanks to its team of over 600 staff across 19 global locations. Meanwhile, Macquarie provides banking, financial, advisory, investment and funds management services through its more than 70 office locations in 26 countries. |
