Macquarie Group Buys Delaware Investments for $428 million


Macquarie Group Ltd., an Australian financial services group/investment bank, will pay Lincoln Financial Group $428 million to acquire Delaware Investments. CNNMoney has more:

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.

The Financial Times says that this is Macquarie’s largest acquisition to date.