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October 22, 2021

MAM to acquire investment advisory firm Central Park Group

Macquarie Asset Management (MAM) has agreed to acquire New York-based independent investment advisory firm Central Park Group (CPG).

The financial terms of the deal were not disclosed.

Central Park Group was founded in 2006 to offer alternative investment opportunities to high-net-worth and smaller institutional investors. It has around $3.5bn in assets under management.

The acquisition will enable MAM to offer individual investors with access to variety institutional-quality alternative investments.

Macquarie Asset Management head Ben Way said: “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.”

Central Park Group co-chief executive officer and co-chief investment officer Gregory Brousseau said: “Joining forces with Macquarie is the natural next step in Central Park Group’s evolution.

“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.”

The deal is expected to close in early next year.

MAM is the asset management division of Macquarie Group. It manages around $520bn in assets globally.

In July, the company signed a deal to acquire AMP Capital’s Global Equities and Fixed Income (GEFI) business.

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