Macquarie Group Ltd., Australia's top investment bank, continued its foray into the Wild West this week.
It said today that it has snapped up Delaware Investments, a Philadelphia-based asset manager with 170 managers, analysts and traders, for $428 million in cash.
Delaware Investments, which also has offices in Boston, Fort Wayne, Ind., San Francisco and Greensboro, N.C., manages about $125 billion. Its parent company, Lincoln National Corp., is one of the country's largest life insurers.
Macquarie, which now has about 1,500 U.S. employees, has pledged to continue its U.S. shopping spree in coming months. Earlier this year, it hired some former Lehman employees. The Australian bank is best known for its managed funds, but it drills deep in energy markets and its infrastructure funds hold such assets as U.S. toll roads and airports.
The firm had 45 jobs posted on its U.S. Web site today, including a road-show coordinator position in New York and an oil-and-gas VP job in Houston.
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