Macquarie Asset Management (MAM), the asset management division of Macquarie Group, has agreed to acquire New York-based Central Park Group (CPG), an independent investment advisory firm delivering private client access to institutional hedge fund, private equity, real estate and funds-of-funds.
The agreement underscores MAM’s commitment to offering individual investors a diversified platform of institutional-quality alternative investments managed by Macquarie and other leading sponsors.
With more than USD3.5 billion in assets under management, Central Park Group is a pioneer in providing financial advisors and their clients access to top alternative investment talent in structures specifically designed to meet the needs of high-net-worth and smaller institutional investors.
“We have long admired Central Park Group’s track record of innovation and success in delivering alternative solutions to individual investors. Given our alternatives expertise and our significant presence in the intermediary channel, the combination of Macquarie and Central Park Group uniquely positions us to address the needs of individual investors by providing increased access to alternative investments along with an enhanced client experience,” says Ben Way, Head of Macquarie Asset Management.
The acquisition highlights Macquarie’s approach to serving clients and becoming a leader in the US high-net-worth alternatives sector. To support this effort, Macquarie is continuing to build its suite of cohesive value-added services, robust educational tools, curricula, and broad platform of alternative investment offerings based on its deep, long-standing industry and asset-class experience.
“The asset management industry is rapidly evolving, and individual investor demand for alternative strategies is playing a central role in this dramatic shift. Macquarie’s objective with the acquisition of Central Park Group is to empower clients and their financial advisors to invest for long-term success through access to institutional-quality alternative investment opportunities in thoughtful structures,” adds Graeme Conway, Chief Commercial Officer at Macquarie Asset Management.
“Joining forces with Macquarie is the natural next step in Central Park Group’s evolution,” says Gregory Brousseau, Co-Chief Executive Officer and Co-Chief Investment Officer of Central Park Group. “We will continue to offer best-in-class alternative investments and clients will benefit from the added resources, depth and scale of a major global financial institution.”
“Macquarie is committed to democratising alternative investments,” says Mitchell Tanzman, Co-Chief Executive Officer and Co-Chief Investment Officer of Central Park Group. “As part of Macquarie, we will be able to further our mission of eliminating many of the structural impediments to private client investment in best-in-class alternatives, on a substantially larger scale. With a shared vision and similar entrepreneurial spirit, we believe that Macquarie is a great fit for Central Park Group.”
The transaction is expected to close in early 2022. Financial terms of the transaction have not been disclosed.
