Japanese financial services group Nomura has announced plans to establish a new asset management company.
The new business will be a collaboration between Nomura Holdings and Nomura Real Estate Holdings after the two entities signed a shareholders agreement.
It will be known as Nomura Real Asset Investment and is designed to focus on Nomura’s real asset fund business, including real estate, infrastructure, logistics and office space.
According to a statement, the aim is to accrue JPY700 to 1,000 billion (US$5.18 billion to $7.41billion) in assets under management in the medium to long term.
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