Nomura Acquires Macquarie’s US, Europe AM Units
Japan’s Nomura has acquired the US and European public asset management business of Australia’s Macquarie.
Nomura has agreed to acquire Macquarie’s US and European public asset management business, according to a statement, subject to customary closing conditions and regulatory approvals. Valued at $1.8 billion, the deal is targeted for closing by the end of 2025.
The acquisition will include approximately $180 billion in retail and institutional client assets across equities, fixed income and multi-asset strategies. Upon completion of the transaction, the total assets under management of Nomura’s investment management franchise are expected to increase to around $770 billion, with more than 35 percent being managed on behalf of clients outside Japan.
Nomura will also welcome a team of more than 700 employees while retaining the leadership of Shawn Lytle, president of the Macquarie funds and head of Americas for Macquarie Group, John Pickard, chief investment officer (CIO) equities & multi-asset, Greg Gizzi, CIO fixed income and Milissa Hutchinson, head of US wealth.
New Initiatives and Collaboration
In partnership with this management team, Nomura plans to carry out several growth initiatives including the development of new investment capabilities, scaling the active ETF platform, investing in talent and data analytics, and leveraging the existing distribution channels.
As part of the deal, Nomura and Macquarie have agreed to collaborate on product and distribution opportunities, including Nomura being a US wealth distribution partner for Macquarie Asset Management and providing continued access for US wealth clients to Macquarie's alternative investment capabilities. In addition, Nomura has committed to providing seed capital for a range of Macquarie’s alternative funds tailored for US wealth clients.
A joint working group between the two will also be established to explore additional potential opportunities for further collaboration.
«This acquisition will align with our 2030 global growth and diversification ambitions to invest in stable, high margin businesses,» said Kentaro Okuda, Nomura president and group CEO. «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.»
