Japanese financial services company Nomura has reached an agreement to acquire Macquarie’s US and European public asset management business for $1.8bn.

As part of the 100 per cent stock purchase transaction, Nomura will purchase Delaware-based Macquarie Management Holdings, Inc., which owns the public asset management business in the US, Macquarie Investment Management Holdings (Luxembourg), and Macquarie Investment Management Holdings (Austria).

The units have approximately $180bn in retail and institutional client assets across fixed income, equities, and multi-asset strategies.

The deal is expected to close by the end of 2025, subject to regulatory approvals and closing conditions.

Nomura said that it had identified global asset management as a key strategic growth priority, and it was looking to expand the global capabilities and client footprint of its investment management division through the acquisition of Macquarie’s business.

Once the deal has completed, Nomura’s investment management franchise is expecting its assets under management to increase to $770bn.

The business will continue to be managed by Macquarie Group head of Americas, Shawn Lytle; CIO equities & multi-asset, John Pickard; CIO fixed income, Greg Gizzi; and head of US wealth, Milissa Hutchinson, following the acquisition.

Alongside this management team, Nomura planned to carry out several initiatives post-acquisition, including developing new investment capabilities; scaling the active ETF platform; investing in talent and data analytics; and leveraging the business’s existing distribution channels to provide its retail and institutional clients with access to the broader set of Nomura asset management capabilities.

Furthermore, Nomura and Macquarie have agreed to collaborate on product and distribution opportunities as part of the deal, and a joint working group between the two firms will be established to “explore additional potential opportunities to create value for clients through further collaboration”.

Commenting on the announcement, 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.

"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.

“We are delighted with the prospect of welcoming all 700-plus employees that will be joining the Nomura Group."

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