Macquarie Investment Management is to acquire Luxembourg-based ValueInvest Asset Management in a move that will boost the firm's global and Japanese equity offering.
Financial terms of the deal - which is expected to close in mid-2018 - were not disclosed.
ValueInvest had approximately €4 billion ($4.9 billion) in assets under management at the end of 2017. The firm’s 17 employees, headed by chief investment officer and portfolio manager Jens Hansen and chief executive Jesper Alsing, will report to Macquarie Investment Management global head of equities John Leonard.
The firm specializes in value-oriented global and Japanese equity strategies.
While neither manager is rated by Citywire at the moment, both have been consistently rated between + and AA for their three-year risk-adjusted performance on the two funds.
Macquarie Investment Management, formerly known as Delaware Investments, had $253 billion in assets under management at the end of 2017. Macquarie Group purchased the asset manager in 2009 from Lincoln Financial for $428 million and rebranded it in 2017 to ‘better reflect the firm’s integrated global capabilities,’ the parent company said at the time.
ValueInvest will be integrated into Macquarie Investment Management’s multi-boutique structure, which includes firms like US-based Bennett Lawrence Management.