Janus Henderson Group agreed to a $7.85 billion take-private by an investor group led by Trian Fund Management and General Catalyst, with Qatar Investment Authority participating. The London-based asset manager, which oversees about $500 billion in assets, will delist from the NYSE and continue under its existing management team. The deal was structured as a statutory merger under Jersey companies law.
Janus Henderson Group Ltd. agreed to be taken private by an investor group led by Trian Fund Management and General Catalyst Group Management in a transaction valued at about $7.85 billion, the companies said Thursday.
"The transaction represents a compelling outcome for shareholders and positions Janus Henderson for long-term success as a private company," Ali Dibadj, chief executive officer of Janus Henderson, said in a statement.
The investor group, which also includes Qatar Investment Authority and other institutional backers, acquired all outstanding shares of the London-based asset manager through a statutory merger under Jersey companies law. Janus Henderson, which had about $500 billion in assets under management as of March 31, will continue to be led by its existing management team, with main offices split between London and Denver. The firm employs more than 2,000 people across 26 cities worldwide.
The take-private of a publicly listed asset manager with roughly half a trillion dollars in AUM signals growing appetite among private equity and sovereign wealth funds for the asset management sector. Janus Henderson will delist from the New York Stock Exchange upon completion, ending its run as a public company. The involvement of General Catalyst, a venture firm known for technology investments, alongside activist investor Trian, suggests a push to modernize traditional asset management through operational improvements and technology integration.
Sterlington advised the Janus Henderson management team on the transaction and go-forward equity compensation arrangements. Executive Compensation partner Jeremy L. Goldstein and M&A partner Christopher S. Harrison led the Sterlington team, which included Jake Ebers and Audry Casusol. Ogier advised the investor consortium on Jersey law aspects, working with lead counsel Debevoise & Plimpton LLP. The Ogier team was led by Corporate partner James Fox and senior associate Robin Burkill.
The deal highlights the use of Jersey's statutory merger regime for large public M&A transactions, a structure that allows for efficient cross-border deal execution. Janus Henderson, formed through the 2017 merger of Janus Capital Group and Henderson Group, had traded on the NYSE as a Jersey-incorporated holding company.
This article is for informational purposes only and does not constitute investment advice.
