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Macquarie targets $1b capital raise, shifts Green Investment Group to funds-management business
Energy - NOVEMBER 1, 2021

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Macquarie targets $1b capital raise, shifts Green Investment Group to funds-management business

by Kali Persall

Macquarie Group has announced plans to raise at least A$1.5 billion ($1.13 billion) in an effort to ramp up its green energy-related investments, according to Reuters.

The capital raising will increase the firm’s stack of surplus capital to nearly A$10 billion ($7.5 billion).

“We’re continuing to see these opportunities, so we think the capital raising will give us flexibility,” said Shemara Wikramanayake, CEO of Macquarie. “It seems like the appropriate time to bring this offering now to our fiduciary investors in the asset management world.”

As part of the strategy, the firm’s Macquarie’s Green Investment Group (GIG), will also move from its investment unit into its funds-management business. GIG, which has more than 300 green-energy projects and a pipeline of about 40 gigawatts under development, will shift from Macquarie Capital into Macquarie Asset Management in April 2022.

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