Nomura is set to acquire three Macquarie public asset management businesses in an all-cash US$1.8 billion deal.
The transaction is expected to close by the end of 2025.
The Japanese bank will take over Macquarie Management Holdings, which owns Macquarie’s public asset management business in the US, Macquarie Investment Management Holdings Luxembourg, and Macquarie Asset Management Holdings Austria.
Through the expansion, Nomura’s assets under management (AUM) for its investment management division will rise from US$590 billion to US$770 billion. A total 35% will be held by ex-Japan clients.
According to Morningstar asset flow data, Macquarie US funds held US$9.3 billion AUM at the end of March 2025. The bulk of this came from the Small Cap Core equity fund (US$6.9 billion), while the remainder was made up of municipal bonds and a taxable bank loan bond.
“This will be transformational for our investment management division’s presence outside of Japan, adding significant scale to the US, strengthening our platform and provisioning opportunities to build our public and private capabilities,” stated Kentaro Okuda, Nomura president and group CEO.
“The acquisition will align with our 2030 global growth and diversification ambitions.”
Macquarie’s businesses will continue to grow under Nomura’s management, with plans in place to increase AUM scale and diversify offerings. Nomura’s asset management services will be made available to business clients.
Current management for the businesses will retain their roles, led by Shawn Lytle, president of the Macquarie funds and head of Americas for Macquarie Group. He is supported by John Pickard, chief investment officer for equities and multi-asset, Greg Gizzi, chief investment officer for fixed income, and Milissa Hutchunson, head of US wealth.
Elsewhere in its global expansion, Nomura recently appointed Douglas Stewart to lead distribution for EMEA and Latin America.
READ MORE: Stewart leads distribution in Nomura EMEA and LatAm push
Nomura will be US wealth distribution partner for Macquarie Asset Management and provide seed capital to a number of Macquarie Asset Management alternative funds for US wealth clients.
The two companies have established a working group to identify further opportunities for collaboration.
