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Macquarie takes stake in aggregator

Macquarie Group has acquired a stake in the mortgage aggregator Connective Services. Connective director Murray Lees told The Adviser that a deal giving Macquarie a 25 per cent share of the company was completed this week.Connective, which has been operating since 2003, has 1900 brokers settling about A$1.4 billion of loans a month. It has a $45 billion loan book.Macquarie is building a significant portfolio of investments in the mortgage distribution market. It has a 19.8 per cent share of Homeloans Ltd and 10.5 per cent of Yellow Brick Road, as well as holdings in Vow Financial and AFG.

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