Nomura to buy Macquarie's US and EU asset mgmt business for $1.8b

Nomura’s AUM is expected to be $770b after completion of the sale.

Nomura is acquiring Macquarie’s US and European public asset management business for an all-cash purchase price of $1.8b.

The Japan-headquartered financial services group is buying 100% of the stock of three companies that operate Macquarie’s US and European public asset management business, which reportedly has $180b in retail and institutional client assets across equities, fixed income, and multi-asset strategies.

Upon completion of the sale, Nomura’s total assets under management (AUM) will be around $770b, with more than 35% being managed on behalf of clients outside Japan.

The business is currently managed by a team led by Shawn Lytle. Lytle, together with John Pickard, CIO Equities & Multi-Asset; Greg Gizzi, CIO Fixed Income; and Milissa Hutchinson, Head of US wealth, will continue to manage the business following the acquisition.

Nomura’s Investment Management Division currently manages approximately $590b in client assets, according to a press release.

Nomura will also get a scaled hub headquartered in Philadelphia under the deal.