Janus Henderson Acquired by Trian and General Catalyst in $7.4B Deal
The all-cash, take-private transaction values the asset manager at $49 per share, an 18% premium, marking a strategic shift for the firm amid industry pressures.
Janus Henderson Group (NYSE: JHG) has agreed to be acquired by a private investor group led by its largest shareholder, Trian Fund Management, and growth equity firm General Catalyst in a deal valued at approximately $7.4 billion. The move will take the global asset manager private, allowing it to navigate a shifting industry landscape away from the glare of public markets.
The all-cash transaction will pay shareholders $49.00 for each JHG share, a figure that represents an 18% premium to the company's closing price on October 24, 2025. Following the announcement, shares of Janus Henderson surged, trading up approximately 3.4% to $47.59 in Monday afternoon trading, nearing the proposed acquisition price and touching a 52-week high.
The buyout is the culmination of a multi-year activist campaign by Nelson Peltz's Trian Fund Management, which first took a significant stake in Janus Henderson in 2020 and currently holds 20.6% of the company's outstanding shares. Trian, which has had representation on the company's board since 2022, is partnering with General Catalyst and a consortium of investors, including the Qatar Investment Authority, to fund the acquisition.
In a statement, the company confirmed the deal received unanimous approval from a special committee of independent directors as well as the full board of directors. "This transaction is a testament to the strength of our franchise and the talent of our people," said Ali Dibadj, CEO of Janus Henderson, who is expected to continue leading the firm post-acquisition. The stability in leadership signals a commitment to the firm's current strategic direction and client service.
The decision to go private comes as the asset management industry grapples with significant headwinds, including margin compression from the ongoing shift to lower-cost passive investment products and increased competition. By removing the short-term pressures of quarterly earnings reports, Janus Henderson aims to focus on long-term growth, strategic investments in its platform, and exploring potential future acquisitions. According to the official announcement, the private structure will provide greater flexibility to achieve этих long-term objectives.
With a market capitalization of over $7.1 billion and approximately $350 billion in assets under management, Janus Henderson is a significant player in the global financial markets. The $7.4 billion valuation underscores the buyers' confidence in the underlying strength of its investment franchises and its potential for growth outside the public sphere.
The deal is not subject to a financing condition and is expected to close in mid-2026, pending customary closing conditions, including approvals from regulators and shareholders. Given Trian's significant existing stake and the board's unanimous approval, the shareholder vote is widely expected to pass. The transaction marks one of the most significant take-private deals in the asset management sector in recent years, a trend that market watchers believe could continue as firms seek shelter from public market volatility and industry-wide fee pressure.