Janus Henderson, the firm with and the first asset manager to launch actively managed ETFs investing in collateralized loan obligations (CLOs), has been taken private in an all-cash deal worth $4.7 billion.
Trian Fund Management, together with General Catalyst Group Management bought the firm, according to a statement from the firm and press reports.
Strategic investors include MassMutual, Hong Kong-based asset manager Sun Hung Kai and Qatar Investment Authority, also participated in privatizing Janus which reached $444 billion in assets under management, according to a statement from the parties.
The deal is expected to close in mid-2026, according to a statement. Janus shareholders (NYSE: JHG) will receive $49 in cash per share. This represents an 18% premium of the unaffected closing price of Janus Henderson shares on Oct. 24, 2025, the last trading day before the proposal was publicized, according to a statement.
Janus Henderson's assets under management include several innovations in securitization. In July 2025, it launched an asset-backed securities ETF (JABS), to invest in high-quality, investment-grade securitized assets and give retail investors access to the ABS markets. Since its July 2025 inception, the fund was managing $1.3 billion, according to Janus.
It was also meant to be a fixed-rate complement to its CLO ETF (Ticker: JAAA), which had $25.9 billion in assets by Q3 2025, Janus said.
"During our 91-year history, Janus Henderson has been public and private at different times," according to a statement from chief executive officer Ali Dibadj. "It has never lost focus on investing in a brighter future together for its clients and employees."
Trian's founding partner and chief executive officer Nelson Peltz, said, "We see a growing opportunity to accelerate investment in people, technology and technology clients."
