Macquarie's M&A Scouting Is No Surprise at Citi -- Market Talk

Dow Jones

Sep 22, 2025

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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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) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 21, 2025 18:53 ET (22:53 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Macquarie's M&A Scouting Is No Surprise at Citi -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMacquarie's M&A Scouting Is No Surprise at Citi -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-09-22 06:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2253 GMT - Citi analyst Thomas Strong is unsurprised by U.S. media reports that <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a> 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) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 21, 2025 18:53 ET (22:53 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7046","symbol_name":"综合性资本市场","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2569758592","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2569758592","pubTimestamp":1758495180,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7046":"综合性资本市场","MQBKY":"Macquarie Group, Ltd.","BK7511":"ESG概念","BK4118":"综合性资本市场","MQG.AU":"Macquarie"},"translate_title":"麦格理的并购考察对花旗来说并不令人意外——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MQBKY":0.9,"MQG.AU":0.9},"content_text":"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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 21, 2025 18:53 ET (22:53 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}