Japanese investment bank Nomura will acquire Macquarie’s United States and Europe public asset management divisions for US$1.8 billion, as Macquarie reshapes its U.S. operations.
Nomura will receive 100% of the stock of the three companies operating Macquarie’s asset management services in these markets, in an all-cash transaction.
“This transaction will allow MAM to build on our leading global position in private markets, and our leading position in Australian public markets, as we focus on providing solutions for our Institutional, Insurance and Wealth clients,” said Macquarie Asset Management head Ben Way.
“This acquisition will align with our 2030 global growth and diversification ambitions to invest in stable, high margin businesses," said Nomura CEO Kentaro Okuda. “It will be transformational for our Investment Management Division's presence outside of Japan, adding significant scale in the U.S., strengthening our platform, and providing opportunities to build our public and private capabilities.”
The deal is expected to close by the end of 2025. All Macquarie employees will be retained, Nomura said.
These Macquarie businesses have around US$180 billion in assets under management, with about 50% of its assets from retail clients. With the acquisition, Nomura’s investment assets under management will rise to $770 billion.
Nomura will invest in these Macquarie divisions’ growth initiatives, according to the company. This will include developing new investment capabilities and scaling up Macquarie’s exchange-traded funds platform.
Macquarie will retain ownership of its public investments business in Australia.
Nomura will now be Macquarie’s U.S. wealth distribution partner, as well as offering seed capital for Macquarie funds targeted at U.S. wealth clients.
Macquarie also said in February it would wind down its U.S. debt capital markets division. The company plans to sell its positions from U.S. debt capital markets activity across the next two years.
Macquarie Group’s (ASX: MQG) share price was A$182.08 at time of writing, up from its previous close at $179.82.
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