Macquarie Group sells public investments business to Nomura in pivot to private markets

Macquarie Asset Management has agreed to sell its North American and European public investments business to Nomura as it applies more focus to private market alternatives.

On April 22, MAM announced that it had sold its North American and European public investments business, comprising equities, multi-asset and fixed income, to Nomura. The manager will retain its public investments business in Australia where it will operate across both public and private markets.

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Nomura will acquire the whole business in a deal worth $A2.8bn (£1.3bn). MAM and Nomura have agreed to work together on product and distribution opportunities, making Nomura a US wealth distribution partner for MAM, which will provide access for US wealth clients to MAM’s alternative investment activities.

Nomura has also pledged to provide seed capital towards a range of MAM alternative funds for US wealth clients. This follows the launch of the Nomura Macquarie Private Infrastructure Fund in Japan earlier this year.

Read more: Macquarie to close US debt capital market business

Following the deal, 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”, it said in a press release.

On April 21, Nomura announced that it had appointed Ashu Patel as head of portfolio management. 

Pal, who previously served as senior portfolio manager at the Maryland State Retirement and Pension System, will focus on asset allocation and manager selection in private credit as a senior portfolio manager and team leader in the Americas.

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