Macquarie Group Buys Delaware Investments For US$428 Million
19 Août 2009 - 10:07AM
Dow Jones News
Australia's Macquarie Group Ltd. (MQG.AU) said Wednesday it has
agreed to acquire U.S. diversified asset management firm Delaware
Investments from Lincoln Financial Group (LNC) for US$428 million
cash.
In a statement, Macquarie Group said the acquisition, which is
subject to regulatory approvals, is consistent with its strategy to
develop a global asset management capacity.
Macquarie said Delaware, which provides investment services to
retail and institutional investors, has more than US$125 billion in
assets under management.
The deal will push Macquarie's total assets under management to
more than US$300 billion.
Delaware President Patrick Coyne and his management team will
continue to run Philadelphia-based Delaware, which employs 583
staff.
-By Lyndal McFarland, Dow Jones Newswires; 61-3-9292-2093;
lyndal.mcfarland@dowjones.com