Nomura accelerates private markets drive with Macquarie acquisition

Nomura has completed its $1.8bn (£1.4bn) acquisition of Macquarie’s US and European public asset management businesses, adding $166bn to its holdings and accelerating the expansion of its private markets platform.

The deal brings roughly £166bn in retail and institutional client assets across equities, fixed income and multi-asset strategies under the global Nomura Asset Management banner.

Nomura will combine its private markets arm, Nomura Capital Management, and its high-yield business, Nomura Corporate Research and Asset Management, with the newly acquired units to form Nomura Asset Management International, a division of its manager arm.

“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,” said Kentaro Okuda, Nomura’s president and group chief executive.

The enlarged business will be headquartered in New York and Philadelphia, the firm said. Shawn Lytle will serve as chief executive of Nomura Asset Management International, with Robert Stark as president and deputy chief executive.

“As a result of the transaction, Macquarie Asset Management (MAM) will be a more focused, leading global private markets alternatives business serving the fast-growing institutional, insurance and wealth markets, supported by a scaled full-service asset manager in Australia,” said Ben Way, head of MAM.

Alongside the acquisition, Macquarie and Nomura have formalised a strategic partnership for product distribution and the co-development of investment strategies, which was first announced in April 2025.

Under the agreement, Nomura will distribute select Macquarie private funds to US high-net-worth and family office clients. The partnership also leads the way for joint development of new investment solutions for clients in the US and Japan.