Trian, General Catalyst Scoop Up Janus Henderson for $7.4 Billion

Group 1: Acquisition Details - Trian Fund Management and General Catalyst are acquiring Janus Henderson for $7.4 billion, representing an 18% premium on its shares prior to the announcement [1][2] - The acquisition is expected to close in the middle of next year and will take Janus off the NYSE, allowing it to operate as a private company [2] Group 2: Company Background - Janus Henderson has $484 billion in managed assets and has experienced six consecutive quarters of net inflows after a period of outflows and internal conflict following its 2017 merger [2][3] - Trian has increased its stake in Janus to 21% over the past five years and has two representatives on the board, including CEO Nelson Peltz [4] Group 3: Industry Context - The asset management industry is facing challenges as clients shift to cheaper investment products like index funds, prompting calls for consolidation among firms to improve fees and margins [4] - The deal reflects a trend of increasing foreign investment in U.S. firms, as seen with Trian's backing from Qatar Investment Authority and Hong Kong-based Sun Hung Kai & Co [6]