Macquarie Capital’s private credit portfolio delivered significantly higher income in the first half of 2025, which helped overall profits almost double year on year.
The advisory and investment business, which is a division of the Macquarie Group, reported a net profit contribution of A$711m (£351.9m) over the period, up 92 per cent from A$371m in the first half of 2024. The increase was driven by stronger mergers and acquisitions and brokerage fee income, alongside higher net income from its private credit portfolio.
Meanwhile, another arm of the group, Macquarie Asset Management, delivered a net profit contribution of A$1.18bn, up 43 per cent from A$823m a year earlier, primarily reflecting higher performance fees.
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However, the Macquarie Group’s overall performance was more muted, with net profit down 21 per cent on the second half of 2025, though up three per cent on the same period last year.
“The improved underlying performance across our operating groups in the first half reflects the ongoing benefits of our diverse business mix and our continued investment in opportunities that support long-term growth and deliver positive outcomes for our clients and communities,” said Shemara Wikramanayake, managing director and chief executive at the Macquarie Group.
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The group’s assets under management rose to A$959bn as at 30 September 2025, up five per cent on the year and two per cent since March 2025.
Macquarie added that it “maintains a cautious stance”, citing a range of factors that could affect its short-term outlook, including market conditions, the completion of period-end reviews and transactions, geographic composition of income and potential tax or regulatory changes.
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