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Bond Market News
Nomura to Acquire Macquarie’s US, EU Public Asset Management Operations
April 22, 2025
Nomura will acquire Macquarie Group’s US and European public asset management operations for AUD 2.8bn ($1.8bn), marking a strategic move to expand globally amid Japan’s shrinking domestic market. The deal includes acquiring Macquarie’s investment teams, operating platforms, and assets, while retaining the existing management. Expected to close by end-2025, the acquisition will boost Nomura’s AUM from $590bn to approximately $770bn. Nomura aims to strengthen its international investment management division, enhance its US presence, and broaden both public and private market capabilities. Macquarie, Australia’s largest investment bank, will retain its domestic public investments business and continue operating across public and private markets. Additionally, both firms plan to collaborate on product development and distribution. The acquisition aligns with a broader trend of Japanese financial institutions seeking stable, fee-based revenue streams abroad to offset limited growth opportunities at home.
Nomura’s dollar bonds were trading stable with its 2033s yielding 5.8%.
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