NOMURA Holdings Inc, Japan's biggest investment bank, will raise 2.1 billion euros (US$3.3 billion) to buy European assets including equity and loans that lost value after the United States mortgage crisis roiled global credit markets.

Nomura will put up 25 percent of the money and raise the rest from investors in Japan, Europe and the Middle East, Michiyori Fujiwara, spokesman at the securities firm, said in a telephone interview with Bloomberg News last Saturday. The funds will go to buy assets in markets including Spain, France, Germany and the UK, Fujiwara said. The Nikkei newspaper has also reported on Nomura's plan.

Nomura is boosting investment abroad after a record fourth-quarter loss, seeking opportunities to profit from the credit collapse that's led to US$387 billion of writedowns and losses at the world's biggest banks and securities firms. Chief Executive Officer Kenichi Watanabe said in April Tokyo-based Nomura will raise 200 billion yen (US$1.9 billion) to buy stakes in foreign investment banks.

"It's positive for Nomura to seek profit overseas when local brokerage commissions aren't going to grow," said Makoto Haga, a Tokyo-based hedge fund manager at Wing Asset Management Co. "Whether they'll succeed is a different question. Nomura has less experience than private-equity funds in restructuring, and finding the right targets is difficult."

Provisions set aside in case bond insurers can't cover losses on securities led Nomura to make a net loss of 154 billion yen for the three months ended March 31. The investment bank's stock has fallen 5.5 percent this year, against the 3.9 percent gain by rival Daiwa Securities Group Inc.

Nomura dropped to 41st among financial advisers on global mergers last year.