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Invesco acquires Guggenheim Investments’ ETF business

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Invesco has agreed to acquire Guggenheim Investments’ ETF business, which includes USD36.7 billion of assets under management.

The firm writes that the acquisition will bring a broad array of funds that expands Invesco’s active, passive and alternative capabilities, enhancing the firm’s ability to provide solutions that help clients achieve their investment objectives.

Under the terms of the agreement, Invesco would acquire Guggenheim Investments’ ETF business for USD1.2 billion in cash. The transaction will be funded using a combination of cash and debt. The transaction is expected to close in the second quarter, pending necessary third-party approvals, including certain regulatory matters and requisite ETF board and ETF shareholder approvals.

The acquisition will increase Invesco’s ETF assets under management to a total of USD196 billion globally.

“We’ve built and managed Invesco over many years with a single focus: to help clients achieve their investment objectives,” says Martin L. Flanagan (pictured), president and CEO of Invesco. “Guggenheim Investments’ ETF business is highly complementary to Invesco’s, and will enable us to provide one of the industry’s most comprehensive and innovative ranges of smart beta ETFs, including fixed income, equal weight and self-indexed product offerings. The acquisition further expands our ability to build better, more diversified portfolios through our solutions capability, and enhances the range of capabilities available via Jemstep, our advisor-focused digital solution. The addition enhances our ability to help meet client needs, which will help further accelerate the growth of our business.”

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