Private equity investments

Macquarie Private Capital Group has exposure to over 200 companies and assets – including Austar, John West, Amart All Sport, Red Paper Groups and Choice Home Loans – through private equity investments valued at around $50 million.

IBA Health: http://www.ibatech.com/pdfs/20030509macquariebankshares.pdf

Rismark
RP Data

Invocare

Anonymous but interesting:
In response to today’s MacBank comment, it is important to remember that MBL
does not own very much but it does manage alot, and charge alot for doing so. If
MBL did actually own the many assets in question it would most likely have the
biggest losses of any company in Australia, as most of these assets do not make
any profits.

The unitholders are the owners and in many other countries MBL would not be
able to, and possibly not want to, keep the management rights of these assets
because the regulator and unitholders would take some level of interest in MBL’s
management activities and probably have a better understanding of the fact that
the assets do not actually generate profits in many cases.

MBL, to their credit, has identified the lack of investor education at all
levels in Australia, including the professionals and regulators, and has done
what any other investment bank would do in this situation, ie make lots of money
for iteself from being smarter than they are.

I also think it would be a very useful excercise to identify the many fees
that have been paid by the MBL funds to MBL and what the funds constitutions say
should happen before MBL pays itself a fee.

Peter Fray

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