Nomura Holdings will pay $88 million for a 15% stake in eight-year-old Fortress Investment Group, according to the Dow Jones. The Japanese brokerage is looking to strengthen its position in alternative investment products and wants to diversify its portfolio of businesses.

Traditionally, Nomura has relied on executing trades to generate the bulk of its revenue. But liberalization and the growth of electronic trading has eroded commissions and forced the brokerage to look for new business.

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