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Macquarie Full-Year Profit A$3 Billion, Up 10.4% — Update


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Dow Jones
By Alice Uribe
SYDNEY Macquarie Group Ltd., Australia s biggest investment bank and asset manager, reported a 10.4% rise in annual profit, driven by a strong result in its markets unit including commodities.
Macquarie said its net profit totaled 3.02 billion Australian dollars ($2.35 billion) in the 12 months through March, up from A$2.73 billion a year earlier.
Macquarie s businesses continued to perform well despite challenging market conditions, reflecting the diversity of our activities and ongoing focus on prudent risk management, said Chief Executive Shemara Wikramanayake.
Macquarie in February said it expected net profit to be up 5-10% on fiscal 2020, as extreme winter weather in North America drove demand for its gas and power infrastructure. ....

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Pinnacle Asset Management-Backed Six One Commodities Announces The Acquisition Of Vega Energy Partners And WGL Midstream


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NEW YORK, April 23, 2021 /PRNewswire/  Six One Commodities Global LLC ( 61C Global ), a natural gas and power merchant backed by Pinnacle Asset Management, L.P. ( Pinnacle ), today announced the acquisitions of Vega Energy Partners, Ltd. ( VEP ) and WGL Midstream, Inc. ( WGLM ).
VEP is a Houston, TX-based energy merchant that, in addition to managing the assets of WGLM, holds asset management agreements and has a strong team moving to 61C Global s platform as part of the transaction. WGLM is a wholesale energy solutions business that invests in and optimizes natural gas pipelines and storage facilities in the Midwest and Eastern United States. ....

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