Nomura to buy Macquarie’s U.S. and European public asset management business for $1.8 billion

Nomura Holdings Inc. signage was seen at the company’s head office in Tokyo, Japan on Wednesday, October 30, 2024.

The Japanese investment bank Nomura announced on Tuesday that it will acquire the U.S. and European public asset management businesses of Australian investment bank Macquarie for $1.8 billion in an all-cash deal. The transaction is anticipated to be finalized by the end of the year, pending regulatory approvals.

Nomura stated that expanding its global asset management division is a key strategic focus, aiming to increase its assets under management from $590 billion to $770 billion. Macquarie will retain its public investments business in Australia, serving institutions, governments, and individual investors.

As part of the agreement, Nomura and Macquarie will collaborate on product and distribution opportunities. Nomura will become a U.S. wealth distribution partner for Macquarie, providing American clients access to Macquarie’s alternative investment offerings. Nomura will also supply seed capital for various alternative funds tailored for U.S. wealth clients.

Nomura’s CEO, Kentaro Okuda, mentioned that the financial impact of the deal will be minimal. Both companies will operate independently until the deal is completed. Okuda emphasized that Nomura does not plan to engage in any direct funding or financing activities related to the acquisition.

Nomura, one of Japan’s leading brokerage and investment firms operating in approximately 30 countries, saw its shares in Tokyo decline by 0.15% on Tuesday, while Macquarie’s stock in Australia rose by 0.32%.