Macquarie Asset Management Acquires Waddell & Reed Financial, Inc.
April 30, 2021
Macquarie Asset Management completed its acquisition of Waddell & Reed Financial, Inc., retaining the asset management business and adding approximately $76 billion in AUM. Concurrently, Macquarie sold Waddell & Reed's wealth management platform to LPL Financial, and the firms entered a long-term strategic partnership.
- Targets
- Waddell & Reed Financial, Inc., Waddell & Reed wealth management platform (business unit)
- Sellers
- Waddell & Reed Financial, Inc. shareholders, Macquarie Asset Management (seller of the wealth management platform to LPL)
- Industry
- Financial Services
- Location
- Kansas, United States
- Transaction Type
- Buyout
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