White & Case advises Nomura on US$1.8 billion acquisition of Macquarie’s US and European public asset management business

Global law firm White & Case LLP has advised Nomura on its entry into an agreement with Macquarie to acquire its US and European public asset management business for US$1.8 billion (subject to purchase price 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.

Under the terms of the agreement, Nomura will acquire 100 percent of the stock of Macquarie Management Holdings, Inc., a Delaware corporation, which owns the public asset management business in the US, Macquarie Investment Management Holdings (Luxembourg) S.à r.l. and Macquarie Investment Management Holdings (Austria) GmbH.

Through the transaction, Nomura will significantly expand the global capabilities and client footprint of its Investment Management Division, which currently manages approximately US$590 billion in client assets. Upon closing the transaction, the total assets under management of Nomura’s Investment Management franchise are expected to increase to approximately US$770 billion, with more than 35 percent being managed on behalf of clients outside Japan.

The White & Case M&A team was led by partners John Reiss, Michael Deyong and Kristen Rohr, and included law clerk Ludovic Bourdages and associates Mario Olczykowski, Isabelle James, Livia Katroshi, Chloe He and Jason Dong (all in New York). The White & Case team also received support from M&A partners Thierry Bosly (Brussels), Prat Vallabhaneni (New York) and Hyder Jumabhoy (London); Investment Funds partners Emmanuel Gutton (Luxembourg) and Omar Hemady (Boston); Real Estate partner Steven Lutt (New York); Employment Compensation & Benefits partners Henrik Patel and Sasha Belinkie (both in New York), counsel Samantha Rozell and associate Lucee Laursen (both in Chicago); Technology Transactions partner Arlene Arin Hahn, counsel Ketan Pastakia and associate Jarrah Al-Buainain (all in New York); Sustainability & Responsible Business partner Taylor Pullins (Houston); Tax partners Guilhem Becvort (Luxembourg), Sang I. Ji and Adriana Zhan and associate Jiawei Zheng (all in New York); Debt Finance partner Willem Van de Wiele (Brussels); Capital Markets partners Tami Stark and Elodie Gal and counsel Claudette Druehl (all in New York); Commercial Litigation partner Joshua Weedman and associate Michelle Ife Irukera (both in New York); Data, Privacy & Cybersecurity partners F. Paul Pittman (Washington, DC) and Tim Hickman (London); International Trade partners Ryan Brady, Cristina Brayton-Lewis (both in Washington, DC) and Orion Berg (Paris) and associate Tim Sensenig (Washington, DC); Foreign Direct Investment partner Farhad Jalinous (Washington, DC); Antitrust partners Rebecca Farrington, Eric Grannon (both in Washington, DC) and Marc Israel (London) and associate Gabriela Baca (Washington, DC); and White Collar associate Thomas Enering (New York).

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