BY Richard Summerfield
Nomura has agreed to acquire Macquarie’s US and European asset management business for $1.8bn as part of the Japanese firm’s mission to expand globally.
In 2024, Nomura announced plans to have 20 percent of its revenues from global markets within the next few years, a move this deal will help achieve. According to a statement announcing the deal, the $180bn in assets that Nomura is set to take over from Macquarie will boost its holdings by 30.5 percent to $770bn. Upon completion, over 35 percent of Nomura’s assets will be managed on behalf of overseas investors.
The transaction is targeted to close by the end of the calendar year, subject to customary closing conditions and regulatory approvals.
“This acquisition will align with our 2030 global growth and diversification ambitions to invest in stable, high margin businesses,” said Kentaro Okuda, president of Nomura and group chief executive. “It will be transformational for our Investment Management Division’s presence outside of Japan, adding significant scale in the U.S., strengthening our platform, and providing opportunities to build our public and private capabilities. We are delighted with the prospect of welcoming all 700-plus employees that will be joining the Nomura Group.”
“This transaction will accelerate the expansion of our global Investment Management business and will be a significant step in building a truly global franchise with a comprehensive set of solutions to serve investors worldwide,” said Chris Willcox, chairman of the investment management division at Nomura.
“We are proud of the public investments business we have built and grown over many decades,” said Ben Way, head of Macquarie Asset Management (MAM). “We are pleased that Nomura will carry it forward into a new phase of growth in North America and Europe. We are also excited to further strengthen our collaboration with Nomura, creating benefits for our respective clients. This transaction will allow MAM to build on our leading global position in private markets, and our leading position in Australian public markets, as we focus on providing solutions for our Institutional, Insurance and Wealth clients.”
As part of the transaction, Nomura and Macquarie have agreed to collaborate on product and distribution opportunities, including Nomura being a US wealth distribution partner for MAM and providing continued access for US wealth clients to MAM’s alternative investment capabilities. Additionally, Nomura has committed to providing seed capital for a range of MAM’s alternative funds tailored for US wealth clients.
Furthermore, MAM will retain its public investments business in Macquarie’s home market of Australia, where it will continue to operate a leading, integrated, full-service asset management business across public and private markets, servicing institutions, governments and individual investors.
News: Nomura to buy Macquarie's US, European asset management units for $1.8 billion