Macquarie Group, Ltd. · ASX:MQG
Macquarie — Non-Deal Roadshow (March 2023)
57 slides from Macquarie's roadshow presentation, Mar 7, 2023
Slide 1: Macquarie Group Limited, Americas Investor Tour
Macquarie Group Limited, Americas Investor Tour Day 1, Philadelphia 7 March 2023 Image credit: Michael Baker International (MBI) 1
Slide 2: Disclaimer
Disclaimer This information has been prepared on a strictly confidential basis by Macquarie Group Limited ABN 94 122 169 279 (“MGL”) and may neither be reproduced in whole nor in part, nor may any of its contents be divulged, to any third party without the prior written consent of MGL. Information i
Slide 3: Macquarie Asset Management
02 Macquarie Asset Management Ben Way
Slide 4: Macquarie Asset Management
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Macquarie Asset Management Macquarie purpose MAM vision Empowering people to innovate and Investing to deliver positive invest for a better future impact for everyone AUM Peopl
Slide 5: Global platform, local presence
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Global platform, local presence Globally diverse team with deep expertise Trusted by clients to match their capital with opportunities with the aim of growing the value of thei
Slide 6: MAM in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary MAM in the Americas Regional presence since 1,136 staff1 with a further 2001 48,000+ employed by fund portfolio companies2 United States Brazil Boston Sao Paulo Private Markets
Slide 7: Market opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Market opportunity The Americas is the largest asset management market and underpenetrated Global Assets under Management1 Americas capital landscape Americas investment landsc
Slide 8: More than 20 years of growth, innovation and collaboration in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary More than 20 years of growth, innovation and collaboration in the Americas Recent highlights from FY23 Integration of Sale of 4 closed-end Acquisition of CLI, Acquisition of Ac
Slide 9: Growth and evolution in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Growth and evolution in the Americas Americas’ contribution to MAM $Ab $Ab 6 400 Assets under Management2 371 5 Americas 44% 4.6 289 292 276 279 300 268 4 255 245 236 205 56% O
Slide 10: Delivering on MAM’s strategy in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Delivering on MAM’s strategy in the Americas FY23 progress Build on our leading position Grow our Alternatives Advance our Public Accelerate the transition to in Real Assets of
Slide 11: MAM’s momentum in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary MAM’s momentum in the Americas Private Markets capital raised for Americas funds and Public Investments growth deployed in Americas $Ab $Ab $Am 25 400 600 23 547 532 467 315 20
Slide 12: Long-term commitment to sustainability
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Long-term commitment to sustainability Industry engagement Founding member Signatory since Repurposing 151 concrete Developing 8 GW+ of solar, 2009 2015 platforms (20 tonnes ea
Slide 13: Risk management approach
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Risk management approach Risk management culture is foundational to our operating model Key principles Case study Embedding a strong safety culture One of the largest waste man
Slide 14: Today’s roadmap
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Today’s roadmap Our focus in the Americas Broaden and deepen Deliver on the region’s Grow and scale our presence partnerships across institutional infrastructure, energy transi
Slide 15: Capital Opportunity
03 Image here Capital Opportunity Andrea Mody
Slide 16: Institutional opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Institutional opportunity One of the largest addressable capital markets globally with an outsized allocation to Private Markets Americas Institutional AUM1 Institutional asset
Slide 17: Wholesale opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Wholesale opportunity The Americas wealth channel is growing rapidly with increasing demand for Alternatives Investible assets of high net worth (HNW) and mass Growth in demand
Slide 18: MAM’s progress
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary MAM’s progress Focusing on increasing the Americas contribution to our global capital raising $A351b Private Markets capital raising for Americas funds – annual average Private
Slide 19: Focus area: Grow penetration of institutional market
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Focus area: Grow penetration of institutional market Broadening and deepening partnerships Key initiatives Case study Solving the needs of a large US public pension Experienced
Slide 20: Focus area: Expanding US Wholesale capability
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Focus area: Expanding US Wholesale capability Extending Public Investments relationships into Private Markets Key initiatives Case study Helped Wholesale partner increase clien
Slide 21: Private Markets
04 Private Markets David Fass Karl Kuchel Jenny Chan William Demas
Slide 22: Private Markets in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Private Markets in the Americas Our presence and capabilities Our portfolio 48,000+ people employed across the portfolio2 Real Assets $A52b AUM across 31 infrastructure portfol
Slide 23: Market opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Market opportunity Key macro themes in the Americas Key opportunities Energy transition Significant infrastructure investment required Decarbonisation and the evolving energy m
Slide 24: Private Markets Americas platform
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Private Markets Americas platform Real Estate Private Credit and Asset Finance $A13b AUM across 422 properties in 5 markets $A2b AUM across 17 investments Real Estate Private C
Slide 25: Private Markets Americas platform
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Private Markets Americas platform Core Renewables Real Assets Beyond Renewables $A52b AUM across 31 infrastructure portfolio companies and 9 green investments Infrastructure Gr
Slide 26: Infrastructure: Our business
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Infrastructure: Our business Investing in and managing infrastructure businesses to drive value for our clients No. 1 20+ years $A35b+ infrastructure manager investing in infra
Slide 27: Infrastructure: Our strategy
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Infrastructure: Our strategy Successful business built on consistent, long-term Investment across a broad approach to value creation range of infrastructure sectors1 27% transp
Slide 28: Infrastructure: Market outlook
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Infrastructure: Market outlook Significant ongoing private investment opportunity across the Americas Key thematics North America - Private infrastructure equity transaction ac
Slide 29: Infrastructure: Active asset management to drive value
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Infrastructure: Active asset management to drive value MAM takes a proactive approach to driving operational and financial performance through the System 7 framework System 7 F
Slide 30: Infrastructure: Aligned Data Centers
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Infrastructure: Aligned Data Centers Aligned is one of the fastest growing data centre platforms in the US and recently signed an acquisition to expand into Latin America ● Ali
Slide 31: Green Investments: The opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Green Investments: The opportunity US climate policies to dramatically shift economic viability of carbon-free energy, clean tech and electric vehicles Inflation Reduction Act
Slide 32: Green Investments: The opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Green Levelised cost of energy post-IRA incentives applied ($US/MWh) Investments: $40 The opportunity Solar $20 (-50%) $35 Onshore (-63%) wind $13 $77 Offshore wind (-43%) $44
Slide 33: Green Investments: Our strategy
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Green Investments: Our strategy Focus on key thematics driving deeper decarbonisation Core Renewables Beyond Renewables H 1 6 C Solar Wind Clean Grid Clean Hydrogen and Carbon
Slide 34: Green Investments: Recent investments
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Green Investments: Recent investments Significant and growing pipeline of commercial scale opportunities Treaty Oak Calibrant Energy Inspiration Mobility Group Clean Energy – S
Slide 35: Public Investments
05 Public Investments Shawn Lytle Kim Scott Gregory Gizzi
Slide 36: Public Investments in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Public Investments in the Americas Our US mutual fund business is one of the industry’s longest standing Presence and capabilities mutual fund families, with MAM Public Investm
Slide 37: Industry trends in Public Investments
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Industry trends in Public Investments Trend Description MAM Public Investments positioning Growth of Passive Growth of passively-managed Focusing on specialist active Investmen
Slide 38: Market opportunity
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Market opportunity US Wholesale represents a key driver of MAM Public Investments’ global growth ambitions The US Wholesale channel is the largest We have a presence in the lar
Slide 39: Driving Waddell & Reed’s positive contribution
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Driving Waddell & Reed’s positive contribution Integration completed with all milestones hit and focus pivoted to growing the platform Strategic rationale for Progress transact
Slide 40: Market environment
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Market environment Navigating through a difficult market environment S&P 500 historic returns indicated that there are two periods in the last 25 years where the rolling monthl
Slide 41: Building scale and capabilities in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Building scale and capabilities in the Americas AUM in the Americas has doubled over the period since FY10 $Ab $Am 400 600 350 315 500 300 254 254 400 241 243 250 233 216 215 2
Slide 42: Equities platform in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Equities platform in the Americas Specialised teams with proven AUM managed by investment expertise $A125b US based teams1 Equities opportunity and progress Complementary capab
Slide 43: Equities: The Ivy Equity boutique
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Equities: The Ivy Equity boutique The Ivy boutique encompasses six portfolio management teams focused on active portfolio management utilising centralised fundamental research
Slide 44: Fixed Income platform in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Fixed Income platform in the Americas An investment platform with a broad offering of capabilities that can be tailored to the benefit of our clients Americas focus capabilitie
Slide 45: Fixed Income: Enhancing Macquarie’s Municipal line-up
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Fixed Income: Enhancing Macquarie’s Municipal line-up Continuously enhancing Macquarie's Municipal line-up to provide more solutions and opportunities for investors, leveraging
Slide 46: Building ‘Solutions’ Capabilities
06 Image here Building ‘Solutions’ Capabilities Graeme Conway Wandy Hoh
Slide 47: Industry context
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Industry context Asset management themes 01 02 03 04 05 06 More, from Industry Permanent Retail capital Democratisation ESG fewer, for less consolidation capital growth growth
Slide 48: The asset management world is changing
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary The asset The composition of our investors is forecast to change significantly management world is changing Retail vs institutional split Near-term generational shift Global AU
Slide 49: MAM is well positioned to succeed in this new world
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary MAM is well positioned to succeed in this new world MAM has a diverse client base and a wide range of product capabilities to grow from Client type Asset class breakdown MAM Gl
Slide 50: The key is to solve problems not sell products
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary The key is to solve problems not sell products Providing ‘solutions’ to our clients is integral to positioning MAM for growth over the next decade What does the client really n
Slide 51: Infrastructure Secondaries
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Infrastructure Secondaries Significant growth expected MAM Secondaries MAM’s specialist approach to infrastructure What do we know? secondaries investing ● Infrastructure prima
Slide 52: Closing and Q&A
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Slide 53: What’s next for MAM in the Americas
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary What’s next for MAM in the Americas Broaden and deepen partnerships across institutional and wholesale clients ● Continue to grow and deepen relationships with large institutio
Slide 54: Glossary
08 Glossary Image credit: Michael Baker International (MBI)
Slide 55: Glossary
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Glossary $A / AUD Australian Dollar CY Calendar Year $US / USD United States Dollar DCM Debt Capital Markets £ / GBP Pound Sterling DPS Dividends Per Share € Euro DRP Dividend
Slide 56: Glossary
Introduction Overview Capital Opportunity Private Markets Public Investments Building ‘Solutions’ Capabilities Q&A Glossary Glossary GIG Green Investment Group MW Megawatt GP General Partner MWh Megawatt Hour GW Gigawatt NPAT Net Profit After Tax ha Hectres NPC Net Profit Contribution HNW High Net W
Slide 57: Macquarie Group Limited, Americas Investor Tour
Macquarie Group Limited, Americas Investor Tour Day 1, Philadelphia 7 March 2023 Image credit: Michael Baker International (MBI) 57