“Macquarie Group plans to increase its involvement in the “massive pipeline” of renewable energy projects required globally, help companies navigate the energy crisis and seize on acquisition opportunities, given its funds have $30bn to deploy.
After handing down a $2.3bn interim profit underpinned by customer hedging in gas and power markets, Macquarie chief executive Shemara Wikramanayake highlighted the accelerating shift to cleaner sources of energy by governments and companies.”
Source: The Australian Business Review, 29 Oct 2022.
A large amount of superannuation is managed by Macquarie Bank on behalf of super funds. They make almost $5 billion a year, most of which comes from managing infrastructure assets that were privatised by Australian governments over the last three decades.
Privatisation could never have happened without Superannuation to fund the sale of assets that should have been left to our children.
Instead our Infrastructure assets are now controlled by unelected officials in ivory towers who make billions in fees from doing so.
Macquarie, on behalf of its clients is going to invest up to $30 billion in renewables – a sure fire way to lose money for everyone other than themselves.
Macquarie Banks namesake, Lachlan Macquarie would be rolling in his grave if he could see his holey dollar being represented by a bunch of virtue signaling rent seekers.
