Macquarie Group, an Australia-based bank, is considering to acquire Fox-Pitt Kelton Cochran Caronia Waller, an investment bank owned by management and private equity firm, JC Flowers & Co, for approximately $200 million – reported Reuters.
Even though both the entities have not entered into a final agreement, industry experts believe that JC Flowers would receive atleast twice the amount what it had to shell out to Swiss Reinsurance Co, to acquire Fox-Pitt three years ago.
Of late, Macquarie is showing special interest in US capital markets and is on a buying and hiring spree. The bank wants to reduce its dependency on infrastructure investing and is keen to extend its footprint beyond Asia and Australia.
Earlier this week, it has agreed to purchase Delaware Investments from Lincoln National Corp. It had also bought Tristone Capital – an energy investment bank and a gas-trading business from Constellation Energy this year, reported the Daily Mail.
