Macquarie Group has acquired Delaware Investments from Lincoln Financial Group. Effective January 5, 2010, the business and employees of Delaware will operate as part of Macquarie’s global asset management arm, Macquarie Funds Group.
The acquisition is part of Macquarie’s strategy to develop a global asset management capability through building a highly regarded team of investment professionals, offering an attractive suite of investment products and gaining broader access to the world’s largest capital market, the US.
Patrick Coyne, president of Delaware and his management team will continue to run Delaware. M. Coyne will report to Ben Bruck, executive director of Macquarie Funds Group and head of Macquarie’s affiliated managers division, who has relocated to Philadelphia.
Mr Bruck said: “We are excited to welcome Delaware’s highly regarded investment, distribution and support teams to Macquarie. Delaware’s diversified US asset management capability is complementary to Macquarie’s both in sector coverage and footprint.
“Clients in the US and around the world will benefit from the increased scale and product offerings that come as a result of this transaction. Above all, clients will experience the same fiduciary excellence that they have come to know and value at Delaware.”
Mr Coyne said: “Delaware and Macquarie share a common approach to asset management and clients should expect to see consistency and continuity in how their investments are managed. This transaction was a tremendous opportunity for the further development of our business and I am delighted that we are now officially a part of Macquarie.”
