Nomura to Acquire $180B AUM Macquarie Asset Management Business
The $1.8 billion acquisition of its U.S. and European business will see 700 Macquarie staff join Nomura and will open wealth management opportunities in the U.S. for the Japanese bank.
Corporate Moves
TPG, Temasek to Take Stake in Cliffwater
The duo will join private equity firm TA Associates as investors in the alternative investment adviser.
University of Utah Selects Cynosure as OCIO for $1.8B Endowment
The Salt Lake City-based fiduciary manager was selected from 50 potential service providers.
Gallagher & Co. Acquires Investment Consultant, OCIO Firm Agilis Partners
The Agilis team will be merged into Gallagher’s operations.
Mercer to Acquire Investment Consultant SECOR Asset Management
The transaction is expected to close in the second quarter of 2025.
UK’s People Pension Creates In-House Adviser
The workplace master trust’s investment team has nearly doubled in a little more than a year.
Canadian Pension Fund BCI Offers to Take Infrastructure Manager BBGI Private
The Luxembourg-based manager could be acquired for $1.31 billion.
Legal & General to Sell 20% Stake in PRT Business to Meiji Yasuda
In addition to the pension risk transfer stake, the Japanese insurer will acquire all of L&G’s U.S. protection business in a total $2.3 billion deal.
Vanguard Announces Fee Reductions Across 108 ETFs
According to the firm, the reduction is its largest fee cut to date.
Saudi Arabia’s SWF Seeds State Street Bond ETF With $200M
The exchange-traded fund tracks the performance of the J.P. Morgan Saudi Arabia Aggregate Index.
BPCE, Generali to Combine Asset Management Operations, Form $1.98T European Investment Giant
The combined firm would become the world’s largest insurance manager, with more than half of managed assets coming from pension and insurance clients.
Apollo Global Management Bolsters Infrastructure Portfolio
The $733 billion asset manager has signed three infrastructure deals in the first two weeks of 2025, including its recent acquisition of Argo Infrastructure.
Net Zero Asset Managers Initiative Pauses Activities Following BlackRock Exit
The NZAM suspended activities and removed an online signatory list while reviewing how the organization fits into a ‘new global context.’
BlackRock Exits Net Zero Asset Managers Initiative
The $11.5 trillion asset manager leaves amidst an ongoing pushback against ESG investing.