Janus Henderson Group, the global asset manager, has acquired Richard Bernstein Advisors, an investment manager based in New York City.
The deal amplifies Janus' existing model portfolios and separately managed account offerings and positions the firm to be a leader in that area, according to a joint statement from Janus and RBA.
It also makes Richard Bernstein Advisors a unit within Janus Henderson, adding its approximately $20 billion in clients' assets to Janus.
Acquiring Richard Bernstein Advisors was a response to accelerating client demand for model portfolios across the industry, according to Ali Dibadj, chief executive officer of Janus Henderson.
Richard Bernstein will continue with the expanded Janus as its global head of macro & customized investing.
"Richard and his investment team are renowned for their research capabilities, time-tested investment strategies, and innovative, top-down macro approach to investing," Dibadj said.
Founded in 2009, Richard Bernstein Advisors is known for its differentiated asset allocation style and as a thought leader in the industry in style investing. Since RBA's approach is research driven, its advice was rooted in its intellectual capital, according to the firms' statement.
Its founder Richard Bernstein has more than 40 years of Wall Street experience and had been chief investment strategist at Merrill Lynch & Co. and will continue with the expanded Janus as its global head of macro & customized investing, according to the firm's statement. Bernstein will also enter a multi-year agreement with the company to guide it though the next phase of RBA's growth.
"We are delighted to join Janus Henderson in this next stage of RBA's evolution," according to a statement from Bernstein. "Our macro investment approach will complement Janus Henderson's bottom-up, fundamental investment strategies, expanding our combined capabilities for the benefit of our clients."
