Big opportunities cement Macquarie Asset Management head’s move to NYC

He will be stationed at Macquarie’s new U.S. office at 660 Fifth Ave. — a move from offices at the Avenue of the Americas Plaza that will accommodate the firm’s growing team. Macquarie AM has more than 900 staff in the Americas and has made a number of strategic acquisitions over recent years of firms headquartered in the U.S., including equity and fixed-income manager Waddell & Reed Financial Inc. and investment advisory firm Central Park Group LLC.

And while Mr. Way is not ruling out further acquisitions, Macquarie AM executives have plenty to be getting on with in terms of organic growth and the development of new offerings — something the firm’s latest high-profile hire is tasked with.

Peter Glaser joined in London as Macquarie’s first global head of the private credit and asset finance team from Alcentra, where he was head of European direct lending. Earlier this year, Alcentra’s parent company, Bank of New York Mellon, announced the sale of the $36 billion credit specialist to Franklin Templeton.

Today, Macquarie Asset Management has $11.4 billion in private credit assets under management, spanning infrastructure, real estate and structured credit, and the firm also invests in movable transportation assets through its $1.7 billion asset finance business.

Mr. Glaser’s appointment “will help us to turbocharge the opportunity we see,” Mr. Way said, citing data provider Preqin’s analysis showing the global private debt market is set to hit $2.69 trillion in assets under management by 2026.

The wider private markets business also includes infrastructure, renewables, agriculture and real estate.

“We continue to see really good support for all of our different products in terms of those strategies,” Mr. Way said, with record-size vintages for some strategies. In May, the firm closed the Macquarie Asia-Pacific Infrastructure Fund 3 at more than $4.2 billion — exceeding the $3 billion target. The second fund in the series closed in 2018 at $3.3 billion.

“We’re raising bigger funds more…

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