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Macquarie buys real estate investment bank

Macquarie Group yesterday said it agreed to buy Presidio Partners, a small investment bank in the United States specialising in real estate.Together with existing Macquarie personnel, the combined team will be 19 people, enough to meet the requirements of the group's media release to describe the investment as "creating a leading global real estate private capital markets platform."Macquarie said it and Presidio "have raised a combined US$30 billion for private real estate transactions … since 2003."

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