Macquarie to sell PE funds management unit - update
Michael Lukin, managing director at Macquarie Investment Management Private Markets, has confirmed that management will spin-out the unit from parent company Macquarie Group.
He told The Australian that the newly independent fund-of-funds business would be called ROC Equity Partners.
The Australian Financial Review earlier reported that Lukin and fellow senior executives Andrew Savage and Shaw Ng would participate in the spin-out, which is expected to be completed within the next six weeks.
Macquarie Investment Management Private Markets was set up in 1996 and has over 35 professionals based across Australia, US, UK, Germany, Hong Kong and Tokyo. The sale price has not been disclosed.
Macquarie is not the first investment bank to have shed its private equity fund-of-funds business. Last August, Credit Suisse Group AG sold its Customised Fund Investment Group to Grosvenor Capital Management.
More on Australasia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.