Macquarie Group is looking to raise A$1 billion ($675 million) through a share-purchase placing to invest in the renewable, technology and infrastructure sectors, several news sources reported today.
The move comes after Macquarie revealed that it is expecting to see an increase of $1.6 billion in capital in the second quarter of the 2020 fiscal year.
Earlier this month, Macquarie agreed to buy out the Australian arm of Genesee & Wyoming, the owner of 120 short-line railroads, spread throughout North America, Europe and Australia.
The Australian firm is reportedly looking to bolster its capital to support a robust pipeline of infrastructure assets. Concurrently, demand for new infrastructure is growing rapidly throughout the country.
New research shows that Australia will need to spend A$600 billion ($406 billion) on infrastructure over the next 15 years to keep pace with demand caused by population growth in its major cities, according to a report Infrastructure Australia.
Macquarie has expertise in the direct, equities and debt infrastructure sectors.