Macquarie Group (ASX:MQG) is closing its US debt capital markets division, including leveraged loan origination and trading, to refocus on private credit, Bloomberg News reported Wednesday, citing unnamed people familiar with the matter.
The move will impact around 80 staff in Macquarie Capital, with some reassigned and others leaving the firm, per the report.
The company plans to sell off positions accumulated through its US debt business over the next two years, freeing up balance sheet capacity for its growing private credit portfolio, which stood at AU$22.5 billion as of Sept. 30, 2024, the report added.
Macquarie did not immediately respond to MT Newswires' request for comment.
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