Macquarie Earmarks 'Additional Capital' For Delaware
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Friday, October 30, 2009

Macquarie Earmarks 'Additional Capital' For Delaware

Delaware Investments' new owner-to-be plans to expand Delaware's "range of investment capabilities." On Friday Macquarie Group revealed (in its report for its half-business year ended September 30) some of its plans for Delaware, which Macquarie expects to finish acquiring from Lincoln Financial Group by early 2010.

"Additional capital will be provided to support Delaware's growth through the expansion of its range of investment capabilities and continued investment in operations and distribution," the update reads.

A spokesperson for Macquarie could not immediately be reached for comment on how much capital Macquarie will invest in Delaware, post-acquisition, or on how that capital will be used.

In August, Macquarie unveiled a $428 million cash deal to purchase Delaware, which boasted $126.7 billion in AUM (including $19.18 billion in mutual fund assets) at the end of June.

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