Guggenheim Partners has agreed to acquire ETF manager Claymore Group, according to a joint news release. Terms were not disclosed.
Claymore's subsidiaries, Claymore Securities, Claymore Advisors and Claymore Investments in Canada, will become wholly owned subsidiaries of Guggenheim, according to the release.
Claymore Group, which also manages closed-end funds and unit investment trusts, had $12.9 billion in assets under management as of June 30. Guggenheim, which has equity, fixed-income, real estate and alternatives strategies, has $100 billion in assets, according to its website.
The transaction is expected to close at the end of the third quarter.