Macquarie Group (MQG) Investor Tour 2025 Day 3 summary

Strategic direction and business evolution

• Managing $943 billion in assets globally, with $204 billion in EMEA, focusing on delivering alpha and responsible growth across real assets, credit, and other solutions.

• EMEA operations leverage 570+ staff in 12 locations, with a strong local presence and 25 years of experience, enabling first-mover advantage and deep client relationships.

• Expansion into new sectors such as digital infrastructure and green investments, with notable acquisitions like the UK Green Investment Bank, Hydro Rein, and Verkor, plus organic growth in data centers and healthcare.

• Geographic expansion includes new offices in Milan, entry into Saudi Arabia, and a focus on Southern Europe and the Middle East, with eight new strategies launched in EMEA over the past five years.

• Strategic framework centers on broadening client relationships, scaling institutional and wealth partnerships, and expanding real assets, private credit, and real estate capabilities.

Financial performance and fundraising

• EMEA contributed ~44% of capital raised, ~50% of private markets base fees, and ~25% of operating income to global business (5-year average FY20–FY24).

• Over 70% of income is annuity-like, with annuity-style income increasing to 77% in FY24, driven by base fee growth and recurring revenue streams.

• Largest-ever European infrastructure fund (MEIF7) closed with €8 billion in commitments, 71% from existing investors.

• Client base is highly diversified, with over 400 institutional clients in EMEA, including 46 of the top 100 European pension entities and 71 insurance clients.

• Fundraising momentum is strong, especially in infrastructure and green investments, with green AUM growing from $5 billion to $19 billion in three years.

Risk management and operational excellence

• Strong risk culture empowers all staff to own risk, with lessons learned from past experiences and a focus on both saying yes and no to investments.

• Enhanced risk standards and policies in portfolio companies, exemplified by a 75% reduction in lost time injury frequency rate in Czech Gas Networks.

• Value creation is driven by industrial and operational initiatives, leveraging a global platform, Portfolio Performance Group, and operating partners.

• Sustainability is foundational, with a decade-long commitment to ESG, integrating non-financial criteria into investment decisions and driving better returns.

• Realized returns in infrastructure funds have been consistently around 13% gross per annum, with a focus on long-term, thematic investing.