Japanese investment bank Nomura has struck a deal to acquire a 41% stake in Australian nature-based real assets and natural capital manager New Forests.
New Forests is said to be the second-largest unlisted forestry asset management player globally and the largest in Asia-Pacific, with $5.47bn (A$7.8 billion) in assets.
The acquisition, whose financial terms were not disclosed, forms part of Nomura’s strategy to expand its client base and product offering through partnerships and consolidation.
New Forests invests in sustainable forestry plantations and landscapes via its funds under management. It also supplies certified plantation forest products across Asia with plans to identify value in other revenue streams such as carbon credits.
The addition of New Forests is expected to bolster Nomura’s real asset business in private areas and enable the firm to offer new asset classes of products to clients through its global platform.
Furthermore, it provides the Japanese firm with industry knowledge and expertise in the fields of forest resources and carbon credits.
Nomura said it will set up related businesses globally to take advantage of growth opportunities.
As part of the deal, Mitsui, which currently owns 22.98% of New Forests shares, will increase its shareholding to 49%.
Nomura and Mitsui will collaborate to further accelerate New Forests’ business expansion plans and increase its assets under management.
The deal is expected to close by the end of December 2022.
Recently, Nomura revealed plans to set up a new digital asset company to provide institutional clients and other investors with products and services linked to cryptocurrencies, stable coins, decentralised finance (DeFi), non-fungible tokens (NFTs) and other tokens.