Mizuho (MFG) and MUFG (MUFG) are exploring potential partnerships or acquisitions of overseas asset managers, with a focus on opportunities in the US and Europe, Reuters reported Monday, citing the companies.

The report said Mizuho is particularly interested in private asset firms in sectors such as credit and infrastructure, while MUFG is targeting growth through non-organic expansion.

Together, the two Japanese banks manage around $1.3 trillion through their asset management arms, mostly for local clients, according to Reuters.

While no deals are confirmed, both banks told Reuters that they're actively monitoring opportunities.

"We definitely are keeping an eye on any potential opportunities... It might be a partnership, it might be an acquisition, nothing is decided as of this point," Oleg Kapinos, London-based head of global distribution strategy for Mizuho's investments arm AM One, which manages about $489 billion, told Reuters.

A spokesperson told Reuters that MUFG Asset Management is looking for "attractive non-organic growth opportunities," while also focusing on expanding its existing business.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)