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Wizards of Oz

With the launch of a new brand to unite its broad array of quantitative strategies, Australia’s Macquarie Bank is making a push to rule the rapidly evolving hedge fund landscape in Asia.

The inner workings of Australia’s Macquarie Bank are a mystery to most outsiders, but “fee factory” is the sobriquet that suits its business model best. Over the past decade the bank has built a profitable franchise by bidding aggressively for infrastructure assets such as toll roads and airports, which it

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