Macquarie Wealth Advisers, LLC

Macquarie Wealth Advisers, LLC is an investment adviser that primarily manages pooled investment vehicles, serving Access Funds, Funds of Funds, private investment funds and closed-end registered funds rather than individual retail accounts. As of March 31, 2025 the Adviser reported approximately $4.29 billion in discretionary assets under management and provides investment advice directly to fund clients rather than to individual fund investors.

The firm focuses on alternative investment strategies and on manager research and selection, conducting operational and investment due diligence when building Fund of Funds or selecting underlying managers for Access Funds. It invests either directly or indirectly (including through derivatives, futures, options and real estate) and routinely uses sub‑advisers and third‑party consultants, with discretionary authority exercised in accordance with each Fund’s offering documents and Board supervision for registered vehicles.

What is distinctive about the Adviser relative to many peers is its affiliation with Macquarie following the Parent’s acquisition in March 2022 and the resulting nexus of related businesses described in the brochure — for example, an affiliated SEC‑registered distributor and placement agent (Delaware Distributors, L.P.), and potential relationships across banking, broker‑dealer, insurance, trust, swap, futures and municipal advisory activities. The Adviser also unusually provides portfolio management to registered investment companies and may engage affiliated or unaffiliated sub‑advisers and placement arrangements, creating operational linkages and potential conflicts that are disclosed in its offering materials.