Nomura, Japan's largest investment bank and broking firm, has jumped into the race to acquire homegrown investment bank Avendus, a KKR portfolio company, said people in the know, switching from advisor on the deal to interested party. The Avendus sale process has already seen keen interest from Japanese financial conglomerate Mizuho, perceived as the most aggressive contender, and US buyout fund Carlyle, ET reported September 10. Earlier this year, KKR had appointed Nomura as the sell-side banker for the Avendus transaction but with the firm joining the fray as a potential suitor, the Japanese bank has relinquished the mandate. KKR may appoint a new advisor. The due diligence process is underway before final offers are submitted by the end of the month.