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Christopher Beck, Chief Investment Officer for Macquarie Investment Management's US Small-Mid Cap Value Equity Team, to Retire on July 31, 2022Macquarie Investment Management, which includes Delaware Funds® by Macquarie, today announced that Christopher Beck, chief investment officer for the firm's US Small-Mid Cap Value Equity team, will retire on July 31, 2022, after nearly 25 years with the firm and 40 years in the industry. Kelley McKee Carabasi and Kent Madden, senior portfolio managers for the US Small-Mid Cap Value Equity team, will succeed Beck as co-CIOs of the team, with the transition expected to be completed by the end of 2021. Beck will remain an active member of the team through his retirement date, working closely with Carabasi and Madden to ensure a smooth transition. "Chris is an exceptional investor, who has built a flagship value offering for the firm and a talented team that has consistently outperformed for our clients," said John Leonard, head of global equities for Macquarie Investment Management. "The transition to Kent and Kelley as co-CIOs is a natural evolution for the team, and we wish Chris all the best in his next phase." Both Carabasi and Madden have been members of the team for more than 15 years and are highly regarded senior portfolio managers and research analysts. The Macquarie Small-, Smid-, and Mid Cap Value Equity strategies are all managed on a team basis. A hallmark of the team's investment process is its in-depth, fundamental bottom-up research approach toward analyzing companies and portfolio construction. "John and I have complete confidence in Kent and Kelley's leadership and continued collaborative and disciplined approach to investing," said Beck. "We are well positioned for a seamless transition, given the lead time and depth of our team." The US Small-Mid Cap Value Equity team oversees approximately $7.6 billion in assets for clients globally. Importantly, there will be no changes to the team's style, portfolio, or investment process.
BIOGRAPHICAL INFORMATION:
Kelley McKee Carabasi, CFA
Kent P. Madden, CFA
About Macquarie Investment Management Macquarie Investment Management is a global asset manager with offices in the United States, Europe, Asia, and Australia. As active managers, we prioritize autonomy and accountability at the team level in pursuit of opportunities that matter for clients. Our conviction-based, long-term approach has led institutional and individual clients to entrust us to manage more than $US242.4 billion in assets as of Sept. 30, 2020. In the US, retail investors recognize our Delaware Funds® by Macquarie family of funds as one of the longest standing mutual fund families, with more than 80 years in existence. Macquarie Investment Management is a division of Macquarie Asset Management, a global asset manager with more than $US397.4 billion in assets under management as of Sept. 30, 2020.
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