Japan’s Nomura to buy Macquarie’s US, European asset management units for $1.8 billion

Japan’s Nomura will acquire Macquarie’s U.S. and European public asset management business for A$2.8 billion ($1.80 billion) in cash, the companies said on Tuesday.

The acquisition gives Nomura immediate scale across Western markets through Macquarie Asset Management’s (MAM) equities, fixed income, and multi-asset investment capabilities, along with established client relationships in key financial centers.

Japan’s second-largest brokerage and investment bank will absorb all relevant assets, investment teams, offices and operating platforms to maintain business continuity for clients.

The Australian financial conglomerate will retain its public investments business in its home market, where it plans to continue operating and investing in a full-service asset management business spanning both public and private markets.

The companies plan to collaborate on investment products and distribution while Macquarie pivots toward expanding its alternative investments business, which caters to institutional investors, insurance companies and wealth management clients.

($1 = 1.5596 Australian dollars)