Macquarie Group announces agreement to divest Macquarie Asset Management’s public investments business in North America and Europe and enter broader strategic relationship with Nomura

• Macquarie Asset Management (MAM) to sell its North American and European public investments business, comprising equities, fixed income, and multi-asset, to Nomura.
• Nomura will acquire the business in its entirety including all relevant assets, teams, offices and operating platform, ensuring continuity for clients. 
• MAM will retain its public investments business in its home market of Australia where it will continue to operate and invest in a full-service asset management business across public and private markets.
• MAM and Nomura will collaborate on product and distribution opportunities to serve their respective clients more effectively.
• Transaction supports the further development of MAM’s platform as a leading global alternatives asset manager with significance in the Institutional, Insurance and Wealth channels.

Macquarie Asset Management (“MAM”), the asset management division of Macquarie Group (ASX: MQG, “Macquarie”), today announced that it has entered into an agreement to sell its North American and European public investments business to Nomura for approximately $A2.8 billion¹ (subject to adjustments) in an all-cash transaction. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close by the end of the calendar year 2025.

Nomura will acquire a North American and European focused public investments business comprising equities, fixed income and multi-asset strategies, with approximately $A285 billion of AUM. Nomura will acquire the business in its entirety including all assets, teams, offices and operating platform, ensuring continuity for clients. The business is led from Philadelphia and has over 700 employees. It will continue to be led by its experienced management team, through the period to close and into a new phase of ownership with Nomura.

MAM will retain its public investments business in Macquarie’s home market of Australia, where it will continue to operate a leading, integrated full-service asset management business across public and private markets servicing institutions, governments and individual investors.

As part of the transaction, MAM and Nomura have agreed to collaborate on product and distribution opportunities, including Nomura being a US wealth distribution partner for MAM, providing continued access for US wealth clients to MAM’s Alternative investment capabilities. Additionally, Nomura has committed to providing seed capital for a range of MAM Alternative funds tailored for US wealth clients. This builds on the recent success in jointly launching the Nomura Macquarie Private Infrastructure Fund in Japan earlier this year.

As a result of the transaction, MAM will be a more focused, leading, global private markets alternatives business serving the fast-growing Institutional, Insurance and Wealth markets, with a scaled full-service asset manager in Australia.

Ben Way, Head of MAM, said: “We are proud of the public investments business we have built and grown over many decades. We are pleased that Nomura will carry it forward into a new phase of growth in North America and Europe. We are also excited to further strengthen our collaboration with Nomura, creating benefits for our respective clients. “

“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.”

1. Foreign exchange rate on 21 April 2025.