Janus Henderson to Be Acquired by Trian, General Catalyst for $7.4B

Group 1 - Trian Fund Management and General Catalyst Group will acquire Janus Henderson Group in an all-cash deal valued at approximately $7.4 billion [2] - Shareholders of Janus Henderson will receive $49 per share, representing an 18% premium from the closing price on October 24, prior to the acquisition announcement [4] - The transaction is expected to close in mid-2026, with the current management team, including CEO Ali Dibadj, remaining in place [4] Group 2 - The acquisition is seen as a strong affirmation of Janus Henderson's long-term strategy, allowing for further investment in product offerings, client services, technology, and talent [5] - Janus Henderson has had a busy year, including managing a $45 billion fixed-income portfolio for Guardian Life Insurance Co. and developing multi-asset solution portfolios for Park Avenue Securities [5] - CNO Financial Group acquired a minority stake in Victory Park Capital, a private credit manager owned by Janus Henderson, for $600 million in capital commitments [6] Group 3 - As of September 30, Janus Henderson managed approximately $484 billion in assets, with 50% from intermediary clients, 30% from institutional clients, and 20% from self-directed investors [7] - Trian has been a shareholder of Janus Henderson since 2020, currently owning 20.6% of its shares, while other significant shareholders include BlackRock and Vanguard [8]