What is Macquarie’s secretive green investment arm even worth?
Valuations of renewable assets are volatile, and exits remain hard. At least one investor thinks the banking giant should get itself out of the business.
Despite well-flagged expectations of weaker earnings growth, and the departure of one of its most senior executives, Macquarie’s share price remains surprisingly strong.
To some, it is driven by investors’ willingness to look to the medium term, and through to expected earnings improvement when interest rates are cut and asset prices recover. To others, it is an example of Macquarie’s ability to trade on “a price to hope” valuation.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles