Davis Polk is advising Guggenheim Investments on the $1.2 billion acquisition of its exchange-traded funds (ETF) business, which includes $36.7 billion of assets under management, by Invesco Ltd. The transaction is expected to close in the second quarter of 2018, pending necessary third-party approvals.

Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with more than $242 billion in total assets across fixed income, equity and alternative strategies. Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.

The Davis Polk corporate team includes partner John H. Butler, associate Arthi Sridharan and law clerk Matthew J. Cowcher. Partner Gregory S. Rowland and associate James Pyo are providing investment management advice. Partner Neil Barr and counsel Ethan R. Goldman are providing tax advice. Partner Jean M. McLoughlin and associate Joseph S. Brown are providing executive compensation advice. Partner Frank J. Azzopardi is providing intellectual property and technology advice. All members of the Davis Polk team are based in the New York office.

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