Monex Group, Inc, a financial group that operates online brokerage, crypto exchange, and asset management businesses in Japan and globally, announces that its Board of Directors resolved today to acquire a 20% stake in Westfield Capital Management Company, L.P., a Boston-based premier boutique asset manager specializing in U.S. growth equity investing across the capitalization spectrum.

The deal will be carried out through Monex’s special purpose company established in the U.S. and will make Westfield an equity method affiliate of Monex. The deal is valued at US$103 million.

Since inception, Westfield has grown assets under management from $130 million to over $24 billion as of year-end 2024, generating more than $100 million in revenue last year. The firm’s investment process, leadership, and daily operations will remain unchanged.

Today, Westfield has over 60 employees, with an average of more than 20 years of experience.

The company has been actively pursuing growth investments in asset management businesses to expand it as a core pillar of sustainable growth strategy. By making Westfield an equity-method affiliate, the Company aims to deepen its presence in the U.S. equity market.

“We are delighted to form this strategic partnership with Westfield, a firm with a distinguished track record and a deeply rooted investment philosophy,” said Yuko Seimei, CEO of the Company. “This transaction represents a significant step in our ongoing efforts to invest in growth areas. We believe Westfield’s consistent performance in the U.S. equity markets, paired with its disciplined investment process, complements our existing capabilities and opens new doors for potentially cross-selling high-quality strategies to our Japanese client base.”

“We are excited to partner with Monex Group to expand our growth outside the United States through distribution in Japan,” said William A. Muggia, President, CEO, and CIO of Westfield. “Over the past 20 years, we’ve had great success scaling our business organically in the U.S., and we believe there is a tremendous opportunity to introduce our strategies to the Japanese marketplace. Looking ahead to the next 20 years, we are energized to leverage our platform for expansion in Asia, alongside our new partner, Monex Group—a distinguished institution with a proven track record of strategic execution and strong leadership.”

By utilizing some external debt, Monex intends to manage its capital efficiency, contributing to a higher return on equity (ROE) over the medium to long term.