They must be of the view that can get greater return longer term from 'private credit'. If I've done the maths right, the USD1.8B gross sale proceeds look to be ~7-7.5 cps, but it's murky (virtually impossible from the outside...) to attach a quantified profit stream to it, from looking at the 3Q update (particularly as they're keeping Oz MAM), which the article basically summarised down to :
Macquarie’s asset management and banking services divisions grew profits by 25 per cent over six months to September 30, while the firm’s market-facing businesses fell 10 per cent. Macquarie Asset Management contributed about 23 per cent of the company’s overall profit in that time.
MQG Price at posting:
$182.23 Sentiment: Buy Disclosure: Held
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