Investment Overview
Marex is a global diversified financial services platform, providing liquidity, market access and infrastructure services to clients in the energy, commodities, and financial markets.
Headquartered in London, Marex comprises more than 35 offices across EMEA, North America and APAC with over 2,000 colleagues serving 4,000+ active clients, enabling access to 58 exchanges and technology-powered services.
Our business model is based on four key elements.
A broad service offering, enabling a true end-to-end solution for clients needing to trade, clear on-exchange and hedge their exposures to particular asset classes,
Widening geographic coverage, meaning Marex is able to support clients in the territories where they want to do business,
A strong people culture, at the heart of which is a deep commitment to delivering excellent service and positive outcomes for clients,
Our technology platform for client management, Neon – Marex’s in-house portal.
Investment Highlights
Large, attractive market
Large, attractive market with structural growth, high barriers to entry and declining competitive intensity
Scalable Platform
Scalable platform providing essential services to growing client base
Diversified & Resilient
Diversified and resilient business model delivering performance in variety of market conditions
Prudent approach to capital and funding
Client-driven business model, prudent approach to capital and liquidity management
Clear commitment to sustainability
Supporting clients in delivering their sustainability goals
Strong track record of growth
Proven track record of organic growth, combined with selective compelling acquisitions
Supportive Macro Environment
Supportive macro environment, expanded global footprint, and clear client-centric strategy
Our Evolution Into a Diversified Global Platform
Revenue | |||||
Milestones | investments by: |
Launched NEON trading, risk and data platform Marex Solutionsformed |
Launched structured notes offering and Marex Clearing Services |
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Acquisitions | Legacy Prime Brokerage Business |
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Clients | ~1,000 | ~2,000 | ~2,800 | ~4,000 | |
Employees | 460 | ~730 | ~1,600 | ~1,900 | |
Offices | 8 | 19 | 29 | >35 |
Well Positioned in Large and Growing Markets
Marex has a ~2% share of the addressable market, providing significant opportunity for growth
Large Serviceable
Addressable Market
Exchange-Traded Energy & Commodity Derivative Contract Volumes
Barriers to Entry/Scale and Declining
Competitive Intensity
Diversified Business Model to Satisfy all Client Needs...
Adjusted Operating Profit by Segment
Revenue by Asset Class
Adjusted Operating Profit by Geography
Global Platform with Opportunity for Further Geographic Expansion
Current Scale
(2021-2023 Revenue $m) |
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% of 2023 Revenue | |||
Key Focus Areas |
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Delivering Performance in Difficult Market Conditions
Marex has shown the ability to deliver under a wide variety of market conditions
Strong Track Record of Organic Growth
Number of Active Clients
(# of clients)
Revenue from Top 10 Clients
($m)
Number of Clients >$1m of Revenue
(# of clients)
Clear Commitment to Sustainability
- Marex has created a full service offering to support our clients in achieving their sustainability commitments and transition toward a low carbon economy
Large and Growing Sustainable Total Addressable Market
- Opportunity to create bespoke “green” contracts for our clients, pairing carbon offsets with underlying commodities and investing to expand our green product coverage
- Fast growing market opportunity:
- Recycled metals market growing at ~8% annually
- Carbon credits market growing at ~20% annually
Prudent Approach to Capital and Liquidity Underpin Our Strategy
Regulatory Capital
Funding Sources
Investment grade ratings from S&P Global and Fitch make Marex a trusted counterpart for our clients.