Monex Group acquires stake in Westfield Capital Management

Monex Group (TSE:8698) announced the acquisition of a 20% stake in Westfield Capital Management Company, L.P., a Boston-based boutique asset manager specializing in U.S. growth equity investing, making Westfield an equity method affiliate of Monex Group. The acquisition, executed through a special purpose company in the U.S., involves a total investment of USD103.0 million. Additionally, Monex Group has agreed to a contingent consideration (earn-out) arrangement based on Westfield's performance over the three fiscal years from the year ending December 2025 to the year ending December 2027.