2253 GMT - Citi analyst Thomas Strong is unsurprised by U.S. media reports that Macquarie explored a potential takeover of private-equity provider Carlyle Group. The interest makes sense to Strong given the Australian financial giant's history, surplus capital and desire for fresh growth. With the transaction apparently unlikely to proceed, he wonders what happens now and thinks investors are looking for the next growth vertical. Strong tells clients in a note that Macquarie's interest in Carlyle highlights a lack of diversification in private markets, where the Australian company has lagged peers in private credit. Citi keeps a neutral rating and A$200.00 target price on the stock, which is at A$222.56 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 21, 2025 18:53 ET (22:53 GMT)

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