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Rating:Ivy lands At Its New Home Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, April 30, 2021

Ivy lands At Its New Home

Reported by Neil Anderson, Managing Editor

A $76-billion-AUM asset management deal and a companion B-D deal are both complete after about five months.

Shawn K. Lytle
Macquarie Group / Macquarie Investment Management / Delaware Funds
U.S. Country Head / Global Head / President
This afternoon, Shawn Lytle confirms that Macquarie Group's Macquarie Asset Management (MAM) arm has closed on its planned, $1.7-billion cash acquisition of Ivy Funds' parent, Waddell & Reed Financial, Inc., and the concurrent, $300-million sale to LPL Financial Holdings, Inc. of Waddell's wealth management business. The first deal brings $76 billion in AUM to a multinational that, as of December 31, had $A550.9 billion ($425.4 billion) in AUM worldwide. And the second deal brings Macquarie, home of Delaware Funds, an "enhanced partnership" with the biggest independent broker-dealer, LPL.

"We are pleased to welcome the Ivy Funds shareholders to the Delaware Funds by Macquarie," states Lytle, who serves as president of the Delaware Funds, head of Macquarie Group in the Americas, and global head of Macquarie Investment Management (MIM). "Both fund families have a shared focus on delivering strong investment results and an excellent client experience for all."

Dan Arnold, president and CEO of LPL, lauds Waddell's financial advisors as "seasoned and well-regarded" and "a strong cultural fit."

"Waddell & Reed and Macquarie have been strong partners throughout the process, and we look forward to our ongoing collaboration," Arnold states.

The three parties first unveiled the two deals back in December. 

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