Macquarie lifts its Yellow Brick Road stake to 10.5%
The Macquarie Group and Macquarie Bank have raised their holding in Mark Bouris’s wealth management and home loans business Yellow Brick Road from 8.3% to 10.5%.
This follows the purchase of additional shares last week.
In November last year, Yellow Brick Road announced that it had signed an origination agreement with Macquarie Bank, the financial services subsidiary of Macquarie Group, to "develop branded banking and wealth management products and services, including the terms of a new mortgage funding and distribution arrangement".
Macquarie will provide wholesale mortgage funding to Yellow Brick Road, allowing the franchise to expand its mortgage offering with plans for further wealth management and banking products though out the year.
Yellow Brick Road (YBR) franchise network grew its mortgage book by 21% to around $1.5 billion in the first three months of the year, a May quarterly update revealed.
The increased investment comes as the final episode of Channel Nine’s Celebrity Apprentice airs this week, hosted by Mark Bouris.
Channel 9’s Nine Ventures consumer investment group holds an 18% stake in Yellow Brick Road.
