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Macquarie Asset Management and Ontario Teachers’ Pension Plan Board have signed an agreement to acquire a 31.6% stake in Puget Holdings from Canada Pension Plan Investment Board. This acquisition includes a 15.8% stake for each party upon closing. The investment supports Washington State's decarbonization efforts, aiming for 100% carbon-free electricity by 2045. The transaction is subject to customary regulatory approvals. Both MAM and Ontario Teachers' express confidence in Puget's commitment to sustainability and reliability in energy provision.
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Macquarie Asset Management (MAM) has completed its acquisition of Waddell & Reed Financial, Inc. (WDR), a key player in US asset and wealth management. The wealth management platform has been sold to LPL Financial, forming a strategic partnership. MAM retains WDR's asset management business, now managing $76 billion in assets, positioning it among the top 20 active US mutual fund managers. This acquisition enhances MAM's investment solutions and client offerings while expanding its footprint in the market.