Nomura is set to acquire Macquarie’s US and European asset management business for $1.8bn as part of the Japanese firm’s mission to expand globally.
It announced plans last year to have 20% of its revenues from global markets within the next few years, which this deal will help it achieve.
The $180bn in assets that Nomura is set to take over from Macquarie will boost its holdings by 30.5% to $770bn. After the transaction, over 35% of Nomura’s assets will be managed on behalf of overseas investors.
See also: Peter Ball exits Nomura Asset Management
Chris Willcox, chair of the Nomura’s investment management division, said: “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.”
Group CEO Kentaro Okuda added: “It will be transformational for our investment management division’s presence outside of Japan, adding significant scale in the US, 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.”
Nomura first entered the US and European market in 2010 with the purchase of Delaware Investments, later expanding its position with a stake in American Century Investments in 2016 and the acquisition of Greentech Capital Advisors in 2019.
The Macquarie deal is planned to be completed by the end of this year with the current leadership team remaining at the helm post-transaction.