Macquarie Group
Anyone have any insights on their investment teams specifically Private equity and credit group? What asset classes do they focus on? Interview process and what does their technical exam encompass?
Comp? Culture?
Anything is helpful?
Are you referring to the principal investment arm of Macquarie capital or to the private equity style investing arm of Macquarie Asset Management? Each have private equity and private credit. The former invests off balance sheet. The latter invests through private equity/credit funds.
On the private markets asset management side (previously known as MIRA), infrastructure is the focus (largest infra PE manager in world) but they also have credit and real estate and some other smaller groups. Credit and real estate are tiny but credit of course has good tailwinds and they are trying to grow fast. In each sector group, the main focus is on acquiring platform companies that own or develop infrastructure assets or sit in adjacent sectors. Overall the groups are pretty sleepy focusing on vanilla core deals or just hardly getting deals done. Work life balance is generally good. You’ll work less than people at firms doing similar things but you will also make materially less. This means that good talent generally does not stick around. When I say materially less, there are first year associates doing less than 200k all in.
On principal side, i have spoken with fewer people than on private markets AM side. From what I know, they have a broader mandate not limited to infra. They also have exposure to real estate (mainly through credit). They work opportunistically and are not siloed off into credit and equity investing desks.
On the principal side. There is a separate team that does all the equity infra deals, and the normal principal group is generalist. In the states/Aus, teams are split between real estate and corporates (equity/credit combined). In london, the team is split between RE/Credit/Equity.
Macquarie’s principal investing divisions can also do VC and Growth/Tech deals with teams in US, Asia and Australia. VC/Growth teams tend to have better WLB and while base comps should be similar to other internal buyside teams, bonus can vary largely due to performance and deal flow.
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