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...Last year the commodities and global markets business he helped build and ran accounted for almost 60 per cent of Macquarie’s profits....
...Marco Dunand, head of Swiss energy trader Mercuria Energy, has indicated that Nick O’Kane, the former star trader at Macquarie, will take on a senior job at the company to help its “overstretched” management...
...Macquarie Asset Management said: “We manage debt investments on behalf of long-term institutional investors in a range of infrastructure companies, providing long-term financing for essential infrastructure...
...Macquarie’s third-quarter trading was weaker than expected across the board according to UBS and issued a soft outlook in its asset management and investment banking operations....
...management, banking and capital divisions....
...It announced last year that it was putting £550mn into the business.Macquarie has said that during its more than decade-long ownership of Thames Water, it oversaw record funding and the group maintained...
...Macquarie is mostly associated with investment banking, financing infrastructure projects and its asset management arm, but the commodities and global markets business built and run by O’Kane has grown in...
...business Corinthia Global Management....
...Neil Purslow Chief Investment Officer, Therium Capital Management, London WC1, UK...
...Management and Boaz Weinstein’s Saba Capital....
...Thames Water’s WBS debt is a legacy of its 2006 buyout by Macquarie....
...Activist investor Elliott has built a 5 per cent position in Scottish Mortgage Investment Trust, whose early bets on tech groups such as Amazon turned it into one of the UK’s most popular investment vehicles...
...Popular investment trusts which are trading at discounts include Scottish Mortgage at 14.71 per cent, Alliance Trust at 5.25 per cent and the City of London Investment Trust at 1.66 per cent....
...Management....
...Fund and wealth managers, as well as peers, have been calling for a change in the way investment trust fees are reported, which they say has further depressed share prices....
...Macquarie currently owns 26 per cent of the business and is in early stage talks to sell a near 5 per cent stake, according to two people close to the discussions....
...The buyback, which represents 9 per cent of the trust’s shares, is the largest-ever for an investment trust, according to analysts at Jefferies....
...Its £1bn investment trust also had a tough 2023, with the trust’s managers noting that last year was “the worst in the history of Ruffer Investment Company”....
...Investor trust will continue to be tested....
...“The investment put us in business,” says Dorrell. Vichie retired from the company in 2021 to pursue other projects....
...According to Jefferies, this is the largest ever buyback programme by a UK investment trust, with £1bn representing 9 per cent of the Scottish Mortgage Investment Trust’s shares....
...Macquarie put in place a so-called “whole-business securitisation”, where the utility’s cash flows service different tiers of debt....
...Martin Bradley Head, Emea Infrastructure, Macquarie Asset Management, London EC2, UK...
...The FTSE 250 group said both retail and institutional investors made withdrawals and noted that £800mn of the outflows related to the departure of the Chrysalis Investments trust managers more than three...
...Trust....
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