Nomura to Acquire Macquarie’s U.S. and Europe Asset Management Units for $1.8B

Japanese investment bank Nomura is set to acquire the U.S. and European public asset management businesses of Macquarie Group (OTC:MQBKY) in a A$2.8 billion ($1.8 billion) deal, the firms announced Tuesday. The acquisition underscores Nomura’s strategic push to expand overseas as Japan’s domestic market continues to shrink.

The deal includes all of Macquarie Asset Management’s public assets, investment teams, and platforms across the U.S. and Europe. Nomura will also retain the unit’s current management team. Completion of the transaction is expected by the end of 2025.

Nomura, Japan’s largest brokerage and investment bank, aims to strengthen its global investment management division and enhance its fee-based revenue streams, which are more resilient to market volatility. The deal will boost Nomura’s total assets under management from about $590 billion to approximately $770 billion.

Kentaro Okuda, Nomura’s president and CEO, called the acquisition “transformational,” emphasizing that it will significantly scale the firm’s investment presence outside Japan and support growth in both public and private asset management.

Macquarie Group, Australia’s leading investment bank by assets, will continue operating its asset management business in its domestic market, covering both public and private markets. As part of the agreement, Macquarie will also collaborate with Nomura on product development and distribution strategies.

The transaction reflects a growing trend among Japanese financial firms investing abroad to offset limited domestic growth opportunities. With global asset management demand rising, the deal positions Nomura to compete more aggressively on the international stage.

This acquisition highlights the evolving dynamics in global finance as firms like Nomura leverage strategic mergers to expand footprint, diversify revenue, and capture new market share in international investment management.