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Nomura seeking private debt acquisitions in alternatives push, CEO says

Kentaro Okuda, Chief Executive, told Reuters in Tokyo on Dec 15 that Nomura Holdings is seeking private debt asset management acquisitions and may consider buyouts or bolt-ons to Macquarie.
Facing low domestic allocations, alternative assets have remained a small part of Japanese investors' portfolios compared to overseas, while asset management's stable fees underpin Nomura's $1.8 billion Macquarie buyout earlier this year.
Okuda highlighted this when he said `Rising interest rates widen credit spreads, so there's an opportunity in private debt and mezzanine financing` and noted a $150 million investment in a U.S. fund via Park Square.
Nomura is targeting alternative assets under management of 10 trillion yen by March 2031, up from 2.9 trillion yen at the end of September 2025, as Okuda sees growth in Japan's direct lending amid bank loan dominance.
The global context shows the $3 trillion global private debt market estimated by Morgan Stanley in early 2025, while Nomura aims to import know-how to Japan's fledgling direct lending industry as demand grows.

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Nomura seeking private debt acquisitions in alternatives push, CEO says

Japan's Nomura Holdings is on the lookout for private debt asset management acquisitions as it expands its alternative assets business, chief executive Kentaro Okuda said in an interview with Reuters.

3 days ago·United Kingdom

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