Macquarie Group has agreed to divest the European and North American operations of its public investments business to Nomura, in a deal that marks a significant reshaping of the Australian group’s global asset management strategy.
The transaction will see Macquarie Asset Management (MAM) transfer approximately $120bn in assets under management to Nomura Asset Management. This includes operations across equities, fixed income, and multi-asset strategies in the US and Europe.
Subject to regulatory approvals, the transaction, which is worth approximately $A2.8bn (€1.6bn), is expected to be completed by the end of 2024.
As part of the deal, Macquarie and Nomura will enter a broader strategic partnership.
According to Macquarie, this includes a distribution agreement enabling Nomura to distribute MAM’s alternative strategies to institutional and other clients globally, extending Macquarie’s reach into Asia and other high-growth markets.
For Macquarie, the divestment reflects a sharpening of its strategic focus.
“This transaction will allow MAM to build on our leading global position in private markets, and our leading position in Australian public markets, as we focus on providing solutions for our Institutional, Insurance and Wealth clients,” said Ben Way, head of MAM.
MAM will retain its alternative investments platforms and continue to focus on infrastructure, real estate, and other private markets.
The sale underscores growing consolidation and realignment in the asset management sector, where firms are seeking scale and differentiated offerings in the face of fee compression and changing client demands.
For Nomura, the acquisition is a major step in expanding its presence outside Asia.
“This acquisition will align with our 2030 global growth and diversification ambitions to invest in stable, high margin businesses,” said Kentaro Okuda, Nomura Holdings president and group chief executive officer.
The transfer of the business will include investment teams and operational staff across the affected regions. Both firms stressed continuity for clients and employees, noting the importance of cultural alignment and shared long-term outlooks.
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