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Macquarie Asset Management Acquires Alternative Investment Firm Central Park Group, Further Strengthening Commitment to Providing Alternative Investment Solutions to High-Net-Worth Investors
Macquarie Asset Management has announced its acquisition of Central Park Group, a New York-based independent investment advisory firm specializing in alternative investments. With over $US3.5 billion in assets under management, CPG enhances Macquarie's ability to provide individual investors access to institutional-quality alternative investments. This transaction, set to close in early 2022, aims to strengthen Macquarie's position in the high-net-worth alternatives sector and expand its offerings in response to growing investor demand.
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Acquisition aims to enhance access to alternative investments for individual investors.
Central Park Group adds over $US3.5 billion in assets under management to Macquarie.
Strategic alignment with growing demand for alternative investment strategies.
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NEW YORK--(BUSINESS WIRE)--
Macquarie Asset Management (MAM), the asset management division of Macquarie Group (ASX: MQG), today announced that it has agreed to acquire New York-based Central Park Group (CPG), an independent investment advisory firm delivering private client access to institutional hedge fund, private equity, real estate and funds-of-funds. The agreement underscores MAM’s commitment to offering individual investors a diversified platform of institutional-quality alternative investments managed by Macquarie and other leading sponsors.
With more than $US3.5 billion in assets under management, Central Park Group is a pioneer in providing financial advisors and their clients access to top alternative investment talent in structures specifically designed to meet the needs of high-net-worth and smaller institutional investors.
“We have long admired Central Park Group’s track record of innovation and success in delivering alternative solutions to individual investors. Given our alternatives expertise and our significant presence in the intermediary channel, the combination of Macquarie and Central Park Group uniquely positions us to address the needs of individual investors by providing increased access to alternative investments along with an enhanced client experience,” said Ben Way, Head of Macquarie Asset Management.
The acquisition highlights Macquarie’s approach to serving clients and becoming a leader in the US high-net-worth alternatives sector. To support this effort, Macquarie is continuing to build its suite of cohesive value-added services, robust educational tools, curricula, and broad platform of alternative investment offerings based on its deep, long-standing industry and asset-class experience.
“The asset management industry is rapidly evolving, and individual investor demand for alternative strategies is playing a central role in this dramatic shift. Macquarie’s objective with the acquisition of Central Park Group is to empower clients and their financial advisors to invest for long-term success through access to institutional-quality alternative investment opportunities in thoughtful structures,” added Graeme Conway, Chief Commercial Officer at Macquarie Asset Management.
“Joining forces with Macquarie is the natural next step in Central Park Group’s evolution,” said Gregory Brousseau, Co-Chief Executive Officer and Co-Chief Investment Officer of Central Park Group. “We will continue to offer best-in-class alternative investments and clients will benefit from the added resources, depth and scale of a major global financial institution.”
“Macquarie is committed to democratizing alternative investments,” said Mitchell Tanzman, Co-Chief Executive Officer and Co-Chief Investment Officer of Central Park Group. “As part of Macquarie, we will be able to further our mission of eliminating many of the structural impediments to private client investment in best-in-class alternatives, on a substantially larger scale. With a shared vision and similar entrepreneurial spirit, we believe that Macquarie is a great fit for Central Park Group.”
The transaction is expected to close in early 2022. Financial terms of the transaction were not disclosed.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US520 billion in assets globally, we provide access to specialist investment expertise across a range of capabilities including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewables, natural assets, real estate, and transportation finance.
Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs approximately 16,400 people in 31 markets and is listed on the Australian Securities Exchange.
About Central Park Group, LLC
Central Park Group was founded to serve the growing demand for alternative investments among high-net-worth and smaller institutional investors. The Firm sources private equity, hedge fund, real estate and fund-of-funds managers and develops offerings that are appropriate for a broad range of qualified investors. Committed to “education before assets®,” Central Park Group has created a suite of educational tools and resources for financial advisors and their clients. Central Park Group’s founders pioneered many of the fund structures now used industrywide providing private client access to strategies historically accessible solely to institutional investors. Over more than 25 years, Central Park Group’s founders have invested more than $US15 billion in hedge funds, private equity, real estate and funds-of-funds on behalf of investors.
All Macquarie figures as of 30 June 2021. All Central Park Group figures as of 1 September 2021.
Macquarie Asset Management (MAM) offers a diverse range of products including securities investment management, infrastructure and real asset management, and fund and equity-based structured products. Macquarie Investment Management (MIM) is the marketing name for certain companies comprising the asset management division of Macquarie Group. These include the following investment advisers: Macquarie Investment Management Business Trust (MIMBT), Macquarie Funds Management Hong Kong Limited, Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited, Macquarie Investment Management Europe Limited, and Macquarie Investment Management Europe S.A.
Other than Macquarie Bank Limited (MBL), none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.
What is the significance of Macquarie's acquisition of Central Park Group?
The acquisition enhances Macquarie's capabilities in offering alternative investments to individual investors, positioning it as a leader in the US high-net-worth sector.
When is the Central Park Group acquisition expected to close?
The transaction is expected to close in early 2022.
How much does Central Park Group manage in assets?
Central Park Group manages over $US3.5 billion in assets.
What will be the impact of this acquisition on investors?
Investors will benefit from increased access to institutional-quality alternative investments and improved client services.
What are the stock symbols associated with this press release?
The relevant stock symbols are MQBKY for Macquarie Group and DGGIX, DTFIX for Macquarie Investment Management.
