News

Nomura acquires stake in Australian forestry asset manager

ForestJapanese investment company Nomura Holdings has purchased a 41% stake in Australia-based New Forests. The company is the second largest unlisted forestry asset manager and the largest in the Asia-Pacific market with AU$7.8 billion (US$5.54 billion) in assets under management. Japanese conglomerate Mitsui is the other major shareholder and has increased its stake from 22.98% to 49% under the terms of the new agreement. According to a statement, the move is part of Nomura’s strategy to expand its client base and product offering through M&As. The New Forests purchase will enable Nomura to offer new asset classes to clients through its asset management subsidiary. The acquisition, which is still subject to regulatory approval, is expected to be completed by December 2022. © 2022 funds global asia

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