By Stuart Condie

SYDNEY--Australian financial giant Macquarie is aiming to wait out current market volatility before divesting any more renewable-energy assets.

Macquarie's asset-management arm lifted annual profit 33% in the group's last fiscal year, divesting offshore wind farm stakes in the U.K. and Taiwan in that period.

Global-market uncertainty sparked by U.S. trade tariffs mean those might be Macquarie's last sales of that type for a while.

"We've got very strong funding and capital position, so we're not going to press ourselves to exit in a disrupted market. We're probably going to look more to invest," Chief Executive Shemara Wikramanayake said Friday.

Macquarie Asset Management reported a net profit contribution of 1.61 billion Australian dollars, or about US$1.02 billion, over the 12 months through March. That made it the second largest contributor to group profit behind commodities and global markets.

"We're able to get decent prices for our renewable assets and we made gains on all of those, but ultimately we are looking at the best time to exit," Wikramanayake said.

Wikramanayake said Macquarie had been in discussions in 2024 over a potential sale of its Cero Generation solar-energy developer. Macquarie granted five months of exclusivity to what Wikramanayake called "a very high-quality counterparty," which she said eventually walked for its own reasons.

The asset-management arm raised A$18.0 billion in fresh equity from clients in its last fiscal year, investing A$25.4 billion across 42 investments including U.S. renewable-energy developer D.E. Shaw.

It had A$27.3 billion ready to deploy at the start of its 2026 fiscal year, which began April 1.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

May 08, 2025 23:27 ET (03:27 GMT)

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