Mac Bank to list media fund
(4 October 2005 – Australia) Macquarie Bank has said it will list its Macquarie Media Group (MMG) fund on the ASX and will look to raise between A$927 and A$996 million in an initial public offering.
Macquarie said MMG had been set up to acquire and manage a portfolio of media assets with a strong mandate to search globally for assets.
Macquarie said the criteria for potential media asset acquisitions were companies with stable earnings and cash flows and strong market positions.
MMG managing director Alex Harvey said the development of MMG was a logical extension of Macquarie’s existing specialist funds management platform.
"[It] will combine management expertise from quality media operators with Macquarie’s fund and asset management expertise and deal origination and execution capabilities," he said.
Macquarie said the criteria for potential media asset acquisitions were companies with stable earnings and cash flows and strong market positions.
MMG managing director Alex Harvey said the development of MMG was a logical extension of Macquarie’s existing specialist funds management platform.
"[It] will combine management expertise from quality media operators with Macquarie’s fund and asset management expertise and deal origination and execution capabilities," he said.
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