Nomura has completed the acquisition of Macquarie’s US and European asset management business to form a new international asset manager.
As part of the US$1.8bn (£1.4bn) deal, Nomura will combine its private markets business, Nomura Capital Management, and its high yield business, Nomura Corporate Research and Asset Management, with the acquired assets – valued at US$166bn (£125bn) – to form Nomura Asset Management International, part of Nomura Asset Management.
Under the agreement, Nomura will distribute select Macquarie private funds to US high-net-worth and family office clients and the combined businesses will develop innovative investment solutions for clients in the US and Japan.
Nomura and Macquarie have also established a joint working group to explore additional opportunities to create value for clients.
The new business will be headquartered in New York and Philadelphia, with Macquarie Group’s head of Americas becoming CEO and Robert Stark, CEO of Nomura Capital Management, taking on the additional roles of president and deputy CEO, Nomura Asset Management International.
Lytle will report to Yoshihiro Namura, head of Nomura’s investment management division, and to Satoshi Kawamura, CEO and president of Nomura Holding America.
Kentaro Okuda, Nomura’s president and group CEO, said: “The successful close of this transaction marks a significant step towards our 2030 management vision, boosting our assets under management and diversifying and strengthening our platform.”
Namura added: “Our goal with this transaction is simple: build a global platform with excellent investment capabilities and performance that helps clients achieve what matters most to them.
“I believe the new management team, led by Shawn and Robert, are well placed to deliver on our ambitions.”
