Janus Henderson finalises strategic partnership with life insurer

Janus Henderson has commenced its strategic partnership with The Guardian Life Insurance Company of America (Guardian), set to manage Guardian's US$45 billion ($68bn) investment grade public fixed income portfolio.

The partnership was initially announced in April, positioning Janus Henderson as a top 15 unaffiliated insurance asset manager, managing over US$109 billion ($166bn) for global insurance companies and over US$147 billion ($223bn) in fixed income asset around the world.

In addition, Guardian will commit up to US$400 million ($608m) for Janus Henderson in securitised credit and high quality active fixed income products, as well as other leading fixed income capabilities, it said.

As part of this strategic partnership, Guardian will also receive equity warrants and other economic consideration designed to support a shared goal of accelerating growth and driving value creation.

Both will also co-develop proprietary, multi-asset solution model portfolios for Guardian's dually registered broker-dealer and registered investment advisor Park Avenue Securities.

Commenting, Janus Henderson chief executive Ali Dibadj said: "We are excited to reach this significant milestone in our multifaceted, strategic partnership with Guardian, which further expands our insurance presence and institutional reach."

"The foundation of our partnership is built on our shared exceptional client focus, and we are pleased to bring to bear our strengths in fixed income, multi-asset solutions, and model portfolios to achieve mutually beneficial outcomes for clients and policyholders alike."

Guardian chair and chief executive Andrew McMahon echoed Dibadj's statement, adding that he believes this partnership will allow the firm to accelerate investment strategies and bolster wealth management capabilities.

As at March 31, Janus Henderson had approximately US$373 billion ($567 billion) in assets under management.