BlackRock Seals Claymore Deal

It's official: BlackRock, Inc. today says it has completed its acquisition of the Toronto-based Claymore Investments, Inc. The deal received security holder approval earlier this week. Its terms were not disclosed.

BlackRock entered into a definitive agreement with subsidiaries of Guggenheim Partners, LLC to buy all of Guggenheim’s interest in Claymore in January. Claymore operates 34 ETFs and two closed-end funds, with US$6.9 billion in assets under management as of December 31, across broad asset classes, including core equity, global sectors, fixed income and commodities.

Claymore's 34 exchange traded products will be combined with the 48 Canadian ETFs, representing US$29 billion assets under management, that BlackRock currently offers via its iShares brand.

In an interview with Money Management Executive, Jennifer Grancio, managing director and head of global business development for iShares, the exchanged-traded fund business of BlackRock, said: "Claymore Canada brings a complementary set of ETFs to the iShares range of products and enhances our ability to compete against other investment fund providers in Canada."