AMP Sells AMP Capital's Global Equities, Fixed Income Business to Macquarie
By Alice Uribe
SYDNEY--AMP Ltd. said it has agreed to sell AMP Capital's global
equities and fixed income business to Macquarie Asset Management
for up to 185 million Australian dollars ($138.5 million).
The sale is part of AMP Capital's wider strategy to focus on its
private markets business which includes real estate and
Under the sale agreement, AMP Capital's Australian and global
listed equities and global fixed income businesses will be combined
with Macquarie's public investments platform.
"Our review of the GEFI business last year showed it had strong
investment capabilities and performance but needed greater scale
and broader distribution reach to compete effectively," AMP's
acting chief executive, James Georgeson, said.
AMP Capital's GEFI business currently manages approximately A$60
billion in assets for AMP Australia as well as a number of external
institutional, retail and direct clients.
Write to Alice Uribe at email@example.com
(END) Dow Jones Newswires
July 07, 2021 18:35 ET (22:35 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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