Simpson Thacher Serves as Special Independent Trustee Counsel to the Ivy Funds Board
12.08.21
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The Firm recently represented the Ivy Funds and the Ivy Funds Independent Trustees as special counsel in connection with its $1.7 billion acquisition of Ivy Funds’ manager Waddell & Reed by Macquarie in December 2020.
In addition to the initial transaction, Macquarie sold Waddell Reed’s wealth management platform to LPL Financial holdings Inc., a leading US retail investment advisory firm, independent broker-dealer, and registered investment advisory custodian for $300 million in April 2021. The Firm also served as special counsel in this transaction.
The Simpson Thacher team was led by David Blass and included Debra Sutter (Registered Funds).