Nomura to Purchase Stake in American Century Investments

December 23, 2015

On December 21, 2015, American Century Investments and the Stowers Institute for Medical Research announced that a non-controlling 41 percent economic interest in American Century Investments held by Canadian Imperial Bank of Commerce would be acquired by Nomura Asset Management.

Under the terms of the agreement, Nomura Asset Management (“Nomura”) will purchase Canadian Imperial Bank of Commerce’s (“CIBC”) shares for approximately $1 billion.  CIBC has held a non-controlling equity interest in American Century Investments (“American Century”) since August 2011, when it purchased a 41 percent stake. The transaction is expected to close in the first half of 2016, pending regulatory approvals. Post transaction, the controlling owner of American Century remains the Stowers Institute for Medical Research, a non-profit biomedical research organization.

Nomura will name two representatives to American Century’s 11-person board of directors. Nomura will also have a 10.1 percent voting interest. 

Perella Weinberg Partners, LP advised American Century in connection with the transaction.
 
To read the full press release: please click here.


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Investment Manager M&A, Investment Manager Strategic Investments, Mutual Fund M&A, Mutual Fund Strategic Investments, Transactions