Janus Henderson is buying Melbourne-based Insignia Financial’s units in a move that will add A$33 billion (US$23 billion) of funds under management to the UK asset manager’s Australian equity and bond businesses under a strategic partnership struck between the firms.
The London-based firm, which managed $500 billion of assets as of end-June, announced the pact in a statement on July 31. It did not disclose the price it will pay for the Australian wealth manager’s investment units Antares Fixed Income, Antares Equities, and Fairview Equity Partners.
According to the company, the deal “further enhances a long-term strategic partnership between Janus Henderson and Insignia, through which Janus Henderson delivers a broad range of its global investment capabilities across Insignia’s investment solutions”.
“The partnership supports Insignia’s focus on delivering scalable, cost-effective investment solutions for its members and clients.”
The deal is expected to close in the fourth quarter, subject to regulatory approval.
Insignia Financial has around A$342 billion of assets under management.
