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Home» About Macquarie Group» News & announcements» Archive 2004» Macquarie acquires a 49 per cent shareholding in Brook

News & announcements

Macquarie acquires a 49 per cent shareholding in Brook

21 December 2004

Brook Asset Management Limited (Brook) and Macquarie Investment Management New Zealand Limited (Macquarie) today announced that Macquarie had acquired a 49 per cent shareholding in Brook.

This strategic partnership will provide significant benefits for both companies.

It gives Macquarie an interest in one of New Zealand’s highest quality boutique investment management firms and allows Brook, and its clients, to leverage Macquarie’s extensive marketing, distribution, IT, accountancy, insurance, legal, administration property services.

This partnership gives the principals of Brook the freedom to concentrate on investment management opportunities, while Macquarie provides administrative support.

Macquarie recently announced plans to establish strategic partnerships with leading boutique investment management firms in select countries globally and this partnership with Brook is the first of these deals.

Brook Chief Investment Officer Simon Botherway said he was pleased that Macquarie had come on board as a significant shareholder and he looks forward to working with them to grow Brook’s investment management business.

“We are always looking at ways to improve our business and our relationship with Macquarie will help Brook in this process by providing access to top quality support in areas such as marketing distribution IT, accountancy, insurance, legal, administration and property services.

“The partnership will ensure that our large team of dedicated investment professionals remain focused on investment management,” Mr Botherway said.

“Additionally we see increasing demand for alternative investment options from New Zealanders and over time, Macquarie and Brook will investigate opportunities to develop infrastructure funds and other investment products.”

“In general terms it will be very much business as usual at Brook, with no change to our investment philosophy, process, people or independence.”

Head of Macquarie Financial Services Group in New Zealand, John Rowley, said Brook’s reputation and professional investment philosophy made them the first choice when Macquarie decided to partner with boutique investment management firms.

“By partnering with Brook we are able to free up their time by taking on the administrative responsibilities and allowing them to concentrate on what they do best – investment management,” he said.

For further information please contact:

Irene O'Brien
Public Relations
Macquarie Financial Services Group
Tel: (612) 8232 3241

Hamish Anderson
Macquarie Senior Marketing Manager
Tel: (649) 363 1435

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