Invesco Ltd. $1.2 Billion Acquisition of Guggenheim Investments ETF Business

Davis Polk advised Guggenheim Investments on the deal

Invesco Ltd. (NYSE: IVZ) has completed its previously announced acquisition of Guggenheim Investments’ exchange-traded funds (ETF) business, which consists of $38.8 billion of assets under management.

The acquisition strengthens Invesco’s market-leading ETF capabilities1 as well as the firm’s efforts to meet the needs of institutional and retail clients in the US and across the globe, which will contribute further to the growth and long-term success of the business. With this acquisition, Invesco’s ETF assets under management total more than $215.3 billion globally

The aggregate purchase price paid by Invesco upon completion of the transaction was $1.2 billion.

Invesco Ltd. provides investment management services. The company, led by Martin L Flanagan, Loren Michael Starr and Colin D Meadows, in 2017 recorded $5 Billion Revenues.

The Davis Polk corporate team included partner John H. Butler (Picture) and associates Matthew J. Cowcher and Darren Bartlette. Partner Gregory S. Rowland provided investment management advice. Counsel Ethan R. Goldman and associate K. Daniel Berman provided tax advice. Partner Frank J. Azzopardi and associate Paul S. Lee provided intellectual property and technology advice. Counsel Mary K. Marks and associate Jane M. McCooey provided antitrust advice.

 

Involved fees earner: John Butler – Davis Polk & Wardwell; Matthew Cowcher – Davis Polk & Wardwell; Darren Bartlette – Davis Polk & Wardwell; Gregory Rowland – Davis Polk & Wardwell; Ethan Goldman – Davis Polk & Wardwell; K. Daniel Berman – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Paul Lee – Davis Polk & Wardwell; Mary Marks – Davis Polk & Wardwell; Jane McCooey – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Guggenheim Investments Inc.;

 

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Author: Ambrogio Visconti