Macquarie Group completes acquisition of Delaware Investments

04 January 2010

Macquarie Group ("Macquarie") (ASX: MQG; ADR: MQBKY) today announced that it has completed the acquisition of Delaware Investments ("Delaware") from Lincoln Financial Group (NYSE: LNC).

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 business, which is now branded "Delaware Investments, a member of Macquarie Group", will remain headquartered in Philadelphia. 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 United States.

Delaware President, Patrick Coyne, and his management team will continue to run Delaware. Mr. Coyne will report to Ben Bruck, an Executive Director of Macquarie Funds Group and head of Macquarie's Affiliated Managers Division, who has relocated to Philadelphia.

"We are excited to welcome Delaware's highly regarded investment, distribution and support teams to Macquarie," said Mr. Bruck. "Delaware's diversified U.S. asset management capability is complementary to Macquarie's both in sector coverage and footprint. Clients in the U.S. 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 Macquarie Group of Companies experience the same fiduciary excellence that they have come to know and value at Delaware," Mr. Bruck said.

Mr. Coyne added: "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."

About Delaware Investments
Delaware Investments, a member of Macquarie Group, is a U.S.-based diversified asset management firm with approximately $US135 billion in assets under management (as of Nov. 30, 2009). Through a team of talented investment professionals, the firm manages assets across all major asset classes for a wide range of institutional and individual investors. Delaware Investments is supported by the resources of Macquarie Group (ASX: MQG), a global provider of asset management, investment, banking, financial and advisory services with approximately $US319 billion in assets under management (proforma as of Nov. 30, 2009).

About Macquarie Funds Group
Macquarie Funds Group is a full service fund manager with over 25 years experience. It offers a diverse range of products including managed funds across a wide range of asset classes, funds-based structured products, hedge funds and fund of funds. Macquarie Funds Group has a global reach with a team of over 1000 staff across 20 global locations.


Alex Doughty
Corporate Communications
Macquarie Group
Tel: +1 (212) 231 1310
Email: alex.doughty@macquarie.com