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Macquarie Group Ltd.
Macquarie Group was chartered in 1969 by Hill Samuel & Co., a UK merchant bank, and listed on the Australian Securities Exchange in 1996. It has since grown...
Macquarie Group Ltd.
Macquarie Group was chartered in 1969 by Hill Samuel & Co., a UK merchant bank, and listed on the Australian Securities Exchange in 1996. It has since grown into a diversified financial services group known for its 'Masters of the Universe' culture of risk management and entrepreneurial deal-making. Shemara Wikramanayake, a Macquarie lifer who joined in 1987, became the first female CEO of an Australian bank in 2018. Macquarie's investment strategy spans infrastructure, energy transition, private credit, real estate, and public equities through Macquarie Asset Management, which runs over A$550 billion (per the firm's 2024 annual report). The firm is a dominant player in infrastructure privatizations, owning stakes in airports, toll roads, and utilities across North America, Europe, and Asia. It also operates one of the world's largest renewable energy development platforms. Notable portfolio positions include Sydney Airport (taken private in 2021 for A$23.6B), the UK's Thames Water (through its infrastructure funds), and a majority stake in the UK's Green Investment Bank (acquired in 2017). Macquarie reported A$4.99 billion in net profit for fiscal year 2024 (ended March 31), with total headcount of over 20,500 globally (per Macquarie's financial results, May 2024). Its offices span Sydney (global HQ), New York, London, Hong Kong, and Dhahran, among 30+ cities. Adjacent vehicles include the Macquarie Infrastructure and Real Assets (MIRA) platform, the Macquarie Capital principal-investment arm, and the Macquarie Group Foundation, which coordinates philanthropy. Macquarie is structurally distinct in its 'Macquarie Model' — a fee-for-service, capital-light approach where the firm earns management fees and performance fees from its funds and arranges deals on behalf of clients rather than taking large principal risk. This model, combined with its disciplined risk culture (often attributed to its merchant-bank roots), has allowed it to survive global financial crises without government bailouts while expanding into 30+ markets.
General information
Firm type
Diversified financial services / Investment banking and asset management
Year founded
1969
AUM
Undisclosed
Location
Region
North America
Country
Australia
City
Sydney
Corporate office
Sydney, New South Wales, Australia
Additional offices
New York · Middlesex · Charlotte · Dhahran
Sector focus
Frequently asked questions
Who runs investment decisions at Macquarie Group?
Shemara Wikramanayake has been managing director and CEO since 2018, overseeing the group's four operating pillars. Each pillar has its own CEO: Ben Way for Macquarie Asset Management, Nick O'Kane for Commodities and Global Markets, Greg Ward for Banking and Financial Services, and Michael Silverton for Macquarie Capital (per the firm's 2024 annual report).
How does Macquarie Group generate revenue — is it fee-based or proprietary trading?
Macquarie operates a 'fee-for-service' model, earning management and performance fees from its funds and advisory mandates rather than taking large principal risk. This structural distinction makes it more like a manager of other people's capital than a proprietary trading firm, though its Commodities and Global Markets segment does engage in trading and risk management (per the firm's investor presentations).
Does Macquarie Group own the assets in its funds, or does it manage them for clients?
Macquarie manages assets on behalf of institutional investors, including pension funds, sovereign wealth funds, and insurance companies, through funds such as Macquarie Infrastructure and Real Assets (MIRA). The firm typically coins invests alongside clients in its funds, but the majority of capital comes from external limited partners (per Macquarie's 2024 annual report).
What investment stages does Macquarie typically target?
Macquarie is active across the lifecycle: it makes greenfield infrastructure development (e.g., renewable energy projects), buys existing toll roads and airports, provides private credit for leveraged buyouts, and manages public equities and fixed-income portfolios. Its infrastructure arm, MIRA, specializes in long-term, operationally intensive assets (per the firm's website).
What is Macquarie Group's stated posture on environmental and social governance (ESG)?
Macquarie has committed to net-zero emissions by 2050 and has set interim targets for its energy and infrastructure portfolios. However, it continues to finance fossil fuel projects — a tension noted by critics. The firm's Green Investment Bank acquisition in 2017 signaled a push into renewable energy, which now represents a significant portion of its infrastructure portfolio (per Macquarie's 2024 Climate Report).
How is Macquarie Group regulated, and has it faced major regulatory issues?
Macquarie is regulated by the Australian Prudential Regulation Authority (APRA) as a banking entity, which subjects it to capital adequacy requirements. The firm has faced regulatory probes in the US and UK over fee structures and anti-money-laundering compliance, including a $90 million settlement with US regulators in 2023 over reporting failures (per Reuters, 2023). However, it has not required taxpayer bailouts during financial crises.
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