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Macquarie earmarks renewable energy, technology and infrastructure as priorities

Macquarie earmarks renewable energy, technology and infrastructure as priorities

(28 August 2019 – Australia) Macquarie Group is raising A$1 billion in fresh equity to support increased investment in the renewables, technology and infrastructure sectors and to provide additional flexibility to pursue new opportunities.

Shemara Wikramanayake, Macquarie chief executive, said raising fresh capital through an institutional placing enabled the bank to maintain strategic flexibility in light of new regulations, which had increased capital requirements.

“We have continued to identify opportunities to invest capital with the potential for attractive risk-adjusted returns for shareholders over the medium term,” she said. 

Macquarie expected to invest A$1bn in net capital in the current quarter ended September 30 and had several major projects under way, including its acquisition of a 40 per cent stake in the UK’s largest offshore wind farm in East Anglia in a deal worth £1.63bn. 

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