Nomura Holdings Inc. agreed to acquire Macquarie Group Ltd.’s U.S. and European public asset management business for $1.8 billion, significantly expanding its investment management footprint beyond Japan.
The all-cash deal will add about $180 billion in assets under management to Nomura’s portfolio, increasing the Japanese bank’s total to around $770 billion. More than a third of the combined assets will be managed for clients outside Japan, according to the Tokyo-based firm.
Macquarie’s business brings established distribution networks in both retail and institutional segments, with presence on nine of the top ten retail platforms in the U.S. The Philadelphia-headquartered operation focuses on actively managed strategies across equities, fixed income and multi-asset investments.
The current management team led by Shawn Lytle will continue to run the business post-acquisition. Nomura plans several growth initiatives, including developing new investment capabilities, scaling the active ETF platform launched in 2023, and investing in talent and data analytics.
For Nomura, which has identified global asset management as a strategic priority, the transaction accelerates its international expansion while adding a high-margin business that generated approximately $700 million in net management fees. The Japanese bank expects minimal impact on its consolidated financial results.
The deal, targeted to close by year-end subject to regulatory approvals, will add more than 700 employees to Nomura’s workforce.
