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Macquarie looks to offload private markets fund-of-funds unit

3 Mar 2014

dollar_money_currency_170sq1Banking group Macquarie is reportedly in talks to dispose of its private markets fund-of-funds unit to its management.

Macquarie has already offloaded management of the US and European operations to RCP Advisors and SL Capital Partners, but it still owns the businesses, according to PeHUB, adding that the transfer followed a strategic review of the business.

“We believe that incorporating the regional specialist skills of these advisors creates a more compelling value proposition for our clients,” said Macquarie, according to the report.

A deal is unlikely to include the infrastructure and clean tech investing fund-of-funds operations.

The management-owned fund of funds unit would have a focus on Asia-Pacific, a source told PeHUB.

Last month Macquarie pointed to a still-challenging set of market conditions, despite expecting to see a higher net profit for the past 12 months, than in the previous year’s results.

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