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Press release from Marketwire

BlackRock to Acquire Claymore Investments

Deepens presence in Canada; Enhances ability to compete against Canadian investment fund providers

Wednesday, January 11, 2012

BlackRock to Acquire Claymore Investments12:15 EST Wednesday, January 11, 2012TORONTO, ONTARIO--(Marketwire - Jan. 11, 2012) - BlackRock, Inc. (NYSE:BLK), Guggenheim Partners, LLC. ("Guggenheim"), and Claymore Investments, Inc. ("Claymore Canada") today announced that BlackRock has entered into a definitive agreement to acquire Claymore Canada. Upon closing, the transaction will augment BlackRock's world-class roster of investment fund products and deepen the Company's footprint in Canada.Based in Toronto, Claymore is an independent Canadian subsidiary of Guggenheim Funds Services Group, a subsidiary of Guggenheim Partners, LLC. "This transaction brings together two innovative investment fund providers and creates an unparalleled opportunity to serve our Canadian clients," said Bill Chinery, head of BlackRock Canada. "Claymore Canada brings a complementary set of ETFs to the world-class iShares® range of products and enhances our ability to compete against other investment fund providers in Canada."Som Seif, president and CEO of Claymore, commented, "advisors and investors have embraced Claymore Canada products as valuable components of their investment portfolios. BlackRock's global breadth and scale provide an excellent platform for Claymore Canada to begin its next, exciting chapter. With best-in-class risk management and operational resources, powerful distribution potential and a shared commitment to putting clients first, the combined business will offer strong opportunities for future growth.""Our investment in Claymore Canada embodies Guggenheim's philosophy of supporting industry innovators and preeminent investment managers," said Todd Boehly, president of Guggenheim Partners. "We couldn't be more pleased with the result of our partnership with Som and his team in Canada, and remain strongly committed to growing our ETF businesses based in the United States."At December 31, 2011, BlackRock offered 48 ETFs in Canada under the iShares brand, representing C$29.0 billion in assets under management ("AUM") and Claymore Canada offered 34 ETFs and two closed-end funds representing C$7.0 billion in AUM. The Canadian funds market totaled C$832.6* billion at June 30, 2011. "This combination of two great businesses will set a new standard for service delivery and product offerings in Canada," said Mary Anne Wiley, head of iShares Canada, BlackRock. "Without question this will enhance our ability to deliver excellence in innovation, quality and choice - attributes for which our iShares brand is known around the globe." Following the receipt of appropriate regulatory approvals, and satisfaction of customary closing conditions, the transaction is expected to be completed by the end of the first quarter of 2012. Terms of the all cash transaction, which will be neutral-to-modestly accretive to BlackRock's 2012 earnings, were not disclosed.About BlackRockBlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2011, BlackRock's AUM was $3.345 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of September 30, 2011, the firm has approximately 10,200 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia, and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.About Guggenheim PartnersGuggenheim Partners is a privately held global financial services firm with more than $125 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients throughout North America, Europe and Asia from more than 25 offices in 10 countries. For more information, please visit www.guggenheimpartners.com.About Claymore InvestmentsClaymore Investments is a leader in offering innovative exchange-traded funds in Canada through its family of 34 ETFs and 2 closed-end funds across a broad range of asset classes including core equity, fixed income and commodities with approximately $7.0 billion in assets under management. Claymore was acquired by Guggenheim Partners in July 2009. For more information, please visit www.claymoreinvestments.ca/.Forward-looking StatementsThis report, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" or similar expressions.BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.In addition to risk factors previously disclosed in BlackRock's Securities and Exchange Commission ("SEC") reports and those identified elsewhere in this report the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for products or services or in the value of assets under management; (3) the relative and absolute investment performance of BlackRock's investment products; (4) the impact of increased competition; (5) the impact of capital improvement projects; (6) the impact of future acquisitions or divestitures; (7) the unfavorable resolution of legal proceedings; (8) the extent and timing of any share repurchases; (9) the impact, extent and timing of technological changes and the adequacy of intellectual property and information security protection; (10) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Barclays Bank PLC or The PNC Financial Services Group, Inc.; (11) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (12) the ability to attract and retain highly talented professionals; (13) fluctuations in the carrying value of BlackRock's economic investments; (14) the impact of changes to tax legislation and, generally, the tax position of the Company; (15) BlackRock's success in maintaining the distribution of its products; (16) the impact of BlackRock electing to provide support to its products from time to time; (17) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (18) the ability of BlackRock to complete the integration of the operations of Barclays Global Investors.BlackRock's Annual Report on Form 10-K and BlackRock's subsequent filings with the SEC, accessible on the SEC's website at www.sec.gov and on BlackRock's website at www.blackrock.com, discuss these factors in more detail and identify additional factors that can affect forward-looking statements. The information contained on the Company's website is not a part of this press release.*Source: Investor Economics, Inc.FOR FURTHER INFORMATION PLEASE CONTACT: Media Relations Canada:BlackRockKarrie Van Belle416-594-4407karrie.vanbelle@blackrock.comORBrian BeadesMedia Relations United States:212-810-5596brian.beades@blackrock.comOREllen TaylorInvestor Relations:212-810-3815ellen.taylor@blackrock.comORBrunswick GroupMedia Relations:Tripp Kyle / April Kabahar-Emspak212-333-3810guggenheim@brunswickgroup.com