Janus Henderson secures US$400m seed for fixed income development
Global asset manager Janus Henderson has signed a strategic partnership with life insurer Guardian Life, which will commit up to US$400 million to accelerate the firm’s fixed income development plans.
Guardian, which has US$172 billion in assets under administration, will commit up to US$400 million of seed capital to help accelerate Janus Henderson’s continued innovation in securitised credit and high-quality active fixed income products, as well as other leading fixed income capabilities, such as active fixed income ETFs.
The deal will provide “seed capital to rapidly launch and scale new fixed income products with anchor capital and free up Janus Henderson seed for non-fixed income products”, a presentation described.
In February, Janus listed the Janus Henderson Australian Fixed Interest Active ETF (JFIX) on Cboe Global Markets which offers investors exposure to government and semi-government bonds alongside corporate and asset-backed securities. Its local product suite already includes two fixed interest active ETF funds – the Tactical Income Active ETF (TACT) and the Sustainable Credit Active ETF (GOOD).
Commenting at the time of the launch, Matt Gaden, Janus Henderson’s head of Australia, said: “After a period of underweight exposure, many are now restoring bond allocations to benchmark levels – or even increasing them – to capture renewed opportunities in the asset class. In an increasingly dynamic market, investors and advisers are strengthening their core portfolios and turning to actively managed fixed income solutions for diversification and income stability.”
As part of this strategic partnership, Guardian will receive equity warrants and other economic considerations designed to support a shared goal of accelerating growth and driving value creation.
Secondly, Guardian and Janus Henderson will co-develop proprietary, multi-asset solution model portfolios for Guardian’s dually registered broker-dealer and registered investment adviser, Park Avenue Securities (PAS), which has over 2,400 advisers covering approximately US$58.5 billion of client assets under management.
Finally, Janus will run the US$45 billion ($75.5 billion) portfolio for Guardian’s general account which includes investment grade corporates and securitised credit.
At the completion of this transaction, Janus Henderson will manage over US$147 billion in fixed income assets globally and over US$109 billion for global insurance companies, greatly expanding the firm’s institutional reach and insurance presence.
Ali Dibadj, chief executive of Janus Henderson, said: “Janus Henderson is honoured to partner with Guardian, one of the largest and most respected life insurers in the US. Together we will work to help shape the financial futures of millions of customers, creating a brighter future together.
“This multifaceted, innovative partnership, founded on a shared set of client-focused values, leverages our complementary strengths, creates alignment for mutual growth, and intends to achieve mutually beneficial outcomes for policyholders, our clients, shareholders, and employees.
“This strategic partnership also supports the execution of Janus Henderson’s client-led vision of amplifying our strengths in fixed income, multi-asset solutions and model portfolios, while greatly expanding our presence in the institutional market and insurance space.”
This partnership transaction is expected to close at the end of the second quarter of 2025.
AUTHOR
Laura Dew
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