Shares of Macquarie Group (ASX:MQG) rose nearly 1% in recent Wednesday trade after the company said in a late Tuesday statement that its asset management arm-led consortium committed 655 million pounds sterling in equity into UK water supply and wastewater treatment services provider, Southern Water.

The group said it plans to provide up to an additional 545 million pounds sterling to the UK firm by the year-end.

The capital infusion will support Southern Water's five-year investment plan and is not contingent on the outcome of its ongoing appeal to the UK's Competition and Markets Authority (CMA).

The final size of the additional equity commitment will be determined after further stakeholder engagement and the CMA's decision, the company said.