TOKYO, Dec 15 (Reuters) – 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.

Nomura ‍also hopes to bring know-how from more mature overseas markets to the fledgling direct lending industry in Japan, where demand is expected to grow now interest rates have finally begun to rise, Okuda said.

These aims mark the latest stage of Nomura’s drive to establish itself as a global financial player and reflect the gradual diversification of financing needs ‌in Japan as the economy finally exits deflation.

The global ‌private debt market was estimated at $3 trillion as of early 2025 by Morgan Stanley, up from $2 trillion in 2020.

“In the private debt

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