Macquarie in $516 million acquisition
In what represents its first major acquisition since the onset of the global financial crisis, Macquarie has moved to pick up US-based diversified asset management firm Delaware Investments for $516 million.
The transaction was announced to the Australian Securities Exchange (ASX) late yesterday, with Macquarie announcing that when the transaction was complete the group would boast combined assets under management with Delaware of $361 billion.
The company said the acquisition was consistent with its strategy of developing a global asset management capability.
It said Delaware would remain headquartered in Philadelphia, and with access to Macquarie’s investment strategies, notably in real assets, global fixed income and alternatives, its clients would be offered opportunities to invest in new products.
The announcement said Macquarie’s clients would, in turn, be offered investment solutions involving Delaware’s investment strategies.
AUTHOR
Mike Taylor
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