Macquarie buys AMP investment arm

Macquarie buys AMP investment arm
The sale is part of AMP Capital’s strategy to focus on opportunities in private markets with assets such as real estate and infrastructure. (Image: Deposit Photos)
Staff reporters
Australian fund manager Macquarie will purchase AMP Capital’s Global Equities and Fixed Income division, which includes AMP Capital NZ.Macquarie will pay up to A$110 million in cash and a cash earnout of up to A$75m payable after the second anniversary of the transaction.The division manages approximately A$60 billion of assets for AMP Australia as well as a number of external institutional, retail and direct clients.The NZ component manages $20b for superannuation schemes, iwi, insurance providers, and charitable trusts.The sale is part...