Macquarie Asset Management buys AMP GEFI business
AMP Limited has sold the AMP Capital Global Equities and Fixed Income business to Macquarie Asset Management.
AMP announced to the Australian Securities Exchange (ASX) today that the transaction was worth up to $185 million.
It said the sale would deliver on AMP Capital’s strategy to focus on high-growth opportunities in private markets across real estate, infrastructure and associated adjacencies, and was an important step in preparing the business for its planned demerger from AMP in the first half of next year.
It said the AMP Capital Global Equities and Fixed Income business currently manages approximately $60 billion in assets under management for AMP Australia as well as a number of external institutional, retail and direct clients.
Under the sale agreement, AMP Capital’s capabilities in Australia and global listed equities and global fixed income will be combined with Macquarie’s public investments platform.
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