Macquarie to sell North America-Europe public investments business to Nomura
Macquarie Asset Management (MAM), part of Macquarie Group, has agreed to divest its North American and European public investments business to Japan's Nomura in an all-cash deal valued at around $A2.8bn ($1.8bn).
The public investments business includes equities, fixed income, and multi-asset strategies, managing almost $A285bn ($182.8bn) in assets.
This acquisition encompasses all assets, teams, offices, and the operating platform.
The business, headquartered in Philadelphia, employs more than 700 individuals. It will remain under the leadership of its current management team during the transition and into the new ownership phase with Nomura.
MAM will retain its public investments operations in Australia.
As part of the agreement, MAM and Nomura will collaborate on product and distribution opportunities.
Nomura will serve as a US wealth distribution partner for MAM, facilitating continued access for US wealth clients to MAM's alternative investment capabilities.
Furthermore, Nomura has pledged to provide seed capital for a variety of MAM alternative funds designed for US wealth clients, building on the recent success of the Nomura Macquarie Private Infrastructure Fund launched in Japan earlier this year.
MAM head Ben Way said: 'We are pleased that Nomura will carry it forward into a new phase of growth in North America and Europe. We are also excited to further strengthen our collaboration with Nomura, creating benefits for our respective clients.'
This acquisition is expected to enhance Nomura's global capabilities and client footprint of its investment management division, which manages around $590bn in client assets.
Upon completion of the transaction, Nomura's Investment Management franchise is projected to manage around $770bn, with over 35% of assets managed on behalf of clients outside Japan.
The acquisition will also establish a scaled hub in Philadelphia to further develop Nomura's international investment management business.
Nomura president and Group CEO Kentaro Okuda said: 'This acquisition will align with our 2030 global growth and diversification ambitions to invest in stable, high margin businesses.'
The deal awaits standard closing conditions including regulatory approvals, with completion anticipated by the end of 2025.
Meanwhile, in January this year, Nomura appointed Sudhir Nemali as managing director and COO of its international wealth management division, according to an internal memo reported by Reuters.
"Macquarie to sell North America-Europe public investments business to Nomura" was originally created and published by Private Banker International, a GlobalData owned brand.
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