Nomura to Pay $1.8B for Macquarie’s US, European Asset Management Divisions

Nomura has agreed to acquire Macquarie’s US and European public asset management business, managing approximately $180 billion in client assets across equities, fixed income, and multi-asset strategies, for $1.8 billion in cash. The transaction involves purchasing 100% of three entities: Macquarie Management Holdings, Inc. (US), Macquarie Investment Management Holdings (Luxembourg), and Macquarie Investment Management Holdings (Austria). The deal is expected to close by year-end.

The acquisition aligns with Nomura’s 2030 global growth strategy, boosting its investment management division’s assets under management from $590 billion to around $770 billion, with over 35% managed for non-Japanese clients. It establishes a Philadelphia-based hub to expand Nomura’s international presence, significantly scaling its US operations and enhancing its platform for public and private investment capabilities.

Macquarie’s US business, led by Shawn Lytle, president of Macquarie Funds and head of Americas, along with key executives John Pickard, CIO equities & multi-asset, Greg Gizzi, CIO fixed income, and Milissa Hutchinson, head of US wealth, will continue to manage operations post-acquisition. All 700+ employees will transition to Nomura.

The agreement includes a partnership for product distribution, with Nomura serving as a US wealth distribution partner for Macquarie Asset Management and maintaining access to Macquarie’s alternative investment offerings for US wealth clients.

Post-acquisition, Nomura plans to drive organic growth by developing new investment capabilities, scaling the business’s active ETF platform launched in 2023, investing in talent and data analytics to enhance distribution, and leveraging existing channels to offer clients access to Nomura’s broader asset management capabilities.

Nomura Securities International is serving as financial advisor to Nomura, and White & Case is serving as legal counsel.