Nelson Peltz’s activist hedge fund Trian Partners and technology-focused investor General Catalyst have submitted a $7.2bn takeover proposal for London-based asset manager Janus Henderson, according to a report by Reuters.
If the deal progresses it would see Janus Henderson return to private ownership following years of underperformance and industry pressure.
The all-cash offer, valued at $46 per share, represents a roughly 14% premium to Janus Henderson’s prior close and sent the stock sharply higher in New York trading. Trian, already the company’s largest shareholder with a 20% stake, has been an activist investor in the group since 2020, pushing for operational improvements and strategic alternatives.
In a letter to Janus Henderson’s board, Trian said that a go-private deal would “derisk” the business and allow greater investment in products, technology and talent, while leveraging General Catalyst’s experience in artificial intelligence and digital transformation.
Janus Henderson, which manages $457bn in assets, said it has formed a special committee of independent directors to review the proposal. Trian’s two board representatives will be excluded from deliberations.
The approach comes amid ongoing consolidation in the active asset management sector, as firms face pressure from the rapid growth of passive investment giants such as BlackRock and Vanguard. Janus Henderson itself was formed through the 2017 merger of Henderson Group and Janus Capital — a deal that initially failed to deliver the expected synergies.
