Intech to Become a Private, Fully Independent Company Following Management-Led Buyout From Janus Henderson Group

Rhea-AI Summary

On February 3, 2022, Intech Investment Management announced it will be acquired by its management team from Janus Henderson Group (NYSE: JHG). The deal is expected to finalize by mid-2022, although financial terms remain undisclosed. Post-transaction, Intech will operate as a fully independent entity, enhancing its client alignment and operational flexibility. The new board will be chaired by Churchill Franklin, with José Marques appointed as CEO. Intech aims to continue its quantitative investing strategy while managing approximately US$38 billion in assets.

Positive

• Intech will become a fully independent company, allowing for enhanced client alignment.
• New leadership team includes experienced professionals, promising effective strategy execution.
• Management ownership could drive improved performance and innovation in investment strategies.

Negative

• None.

WEST PALM BEACH, Fla. and LONDON, Feb. 3, 2022 /PRNewswire/ -- Intech Investment Management LLC ("Intech" or "the company"), a specialized global quantitative equity manager, and Janus Henderson Group plc ("Janus Henderson") (NYSE/ASX: JHG) announced today that Intech's management team will acquire the company from Janus Henderson. The transaction is expected to close before the end of the first half of 2022. The financial terms of the transaction were not disclosed.

Upon completion of the transaction, Intech will become a fully independent company, increasing its alignment with clients and providing additional flexibility to deliver enhanced value for clients, partners, employees and all stakeholders. Intech will be 100% owned by the company's founder, employees, and board members.

As part of the transaction, Intech will form a new board of directors ("the board") chaired by Churchill Franklin, Co-founder and former CEO of Acadian Asset Management. Franklin will be joined by a highly accomplished and experienced team, including Nobel Laureate Myron Scholes, PhD, and Larry Leibowitz, former COO of the New York Stock Exchange. The new board will assume an active role in overseeing the company's go-forward strategy and all other aspects of the business.

Additionally, Intech is announcing a new CEO and the following leadership updates.

• Jose Marques, PhD, former Head of Trading at Bridgewater Associates, and current CEO of Entrypoint Capital, will become CEO of Intech, overseeing the company's overall operations, including directing agendas, driving profitability, managing organizational structure, strategy, and communicating with the board. Dr. Marques will also join the board as a director.
  
  
• Adrian Banner, PhD, will transition from his role as CEO and become dedicated CIO of Intech, fortifying the company's focus on portfolio management and research. He will continue to serve on the board.
  
  
• Jian Tang, PhD, will be promoted to Portfolio Manager, focusing on enhancing Intech's investment management process.

"As a private, fully independent company, Intech is in the best possible position to focus on portfolio management and research, improve investment outcomes for clients, and deliver long-term value to our stakeholders," said Adrian Banner, PhD, CEO and CIO of Intech. "Dr. Marques is a proven leader and effective CEO, with more than 30 years of experience in leading thoughtful and systematic transformations, and I am looking forward to partnering with him in this next chapter. He is unquestionably the right choice to lead Intech into a bright new future."

"We are supportive of Intech's new ownership structure, as it allows both organizations to focus on their key value propositions: Janus Henderson on providing active, fundamental investing; and Intech on delivering superior quantitative investment solutions to institutional investors," said Dick Weil, CEO of Janus Henderson. "Intech has a 35-year track record operating as an independently managed company, and in this new chapter Intech is well-positioned to continue its position as a leader in quantitative investing."

Today's announcement has no impact on how the company manages client assets. Intech will continue the evolution of the investment approach established by our founder in 1987. To help ensure seamless continuity in operations and client service, Intech and Janus Henderson will enter into an ongoing transition services agreement.

About Intech

Intech is a global quantitative asset manager investing on behalf of pension funds, governments, endowments, foundations, and other institutional investors worldwide. Having pioneered the application of Stochastic Portfolio Theory in 1987, Intech continues to seek distinctive alpha sources for clients in five continents. As of 31 December 2021, Intech managed US$38 billion in investment solutions, including ESG, absolute return, defensive equity, and traditional long-only strategies. For information about Intech, please visit https://www.intechinvestments.com.

About Janus Henderson

Janus Henderson Group is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, fixed income, quantitative equities, multi-asset, and alternative asset class strategies. At 31 December 2021, Janus Henderson had approximately US$432 billion in assets under management, more than 2,000 employees, and offices in 25 cities worldwide. Headquartered in London, the company is listed on the New York Stock Exchange (NYSE) and the Australian Securities Exchange (ASX).

Forward-Looking Statements Disclaimer

This document includes statements concerning potential future events involving Janus Henderson Group plc that could differ materially from the events that actually occur. The differences could be caused by a number of factors, including those factors identified in Janus Henderson Group's Annual Report on Form 10–K for the fiscal year ended 31 December 2020 and in other filings or furnishings made by the Company with the Securities and Exchange Commission from time to time (Commission file no. 001–38103), including those that appear under headings such as 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations'. Many of these factors are beyond the control of JHG and its management. Any forward-looking statements contained in this document are as at the date on which such statements were made. Janus Henderson Group undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except as required by law.

The information, statements and opinions contained in this document do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of any offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.

Not all products or services are available in all jurisdictions.

Mutual funds in the US are distributed by Janus Henderson Distributors US LLC.

Past performance is no guarantee of future results. Investing involves risk, including the possible loss of principal and fluctuation of value.

Please consider the charges, risks, expenses and investment objectives carefully before investing. For a US fund prospectus or, if available, a summary prospectus containing this and other information, please contact your investment professional or call 800.668.0434. Read it carefully before you invest or send money.

Janus Henderson and Intech are trademarks of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.

Contacts

Intech:

Media
Andre Prawoto
Chief Marketing Officer
+1 (561) 776 2226
aprawoto@intechinvestments.com 

Prosek Partners
pro-intech@prosek.com 

Janus Henderson:

Investor
Jim Kurtz
Co-Head Investor Relations (US)
+1 (303) 336 4529
jim.kurtz@janushenderson.com 

Melanie Horton
Co-Head Investor Relations (Non-US)
+44 (0)20 7818 2905
melanie.horton@janushenderson.com 

Media
Sarah de Lagarde
Global Head of Communications
+44 (0) 20 7818 2626
sarah.delagarde@janushenderson.com

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SOURCE Intech Investment Management; Janus Henderson Investors

FAQ

What is the transaction involving Janus Henderson and Intech (JHG)?

Intech Investment Management will be acquired by its management team from Janus Henderson Group, expected to close by mid-2022.

Who will lead Intech after the management buyout?

José Marques will become the CEO of Intech, with a new board including Churchill Franklin as chair.

How much assets does Intech manage as of December 31, 2021?

Intech managed approximately US$38 billion in investment solutions as of December 31, 2021.

What is the expected impact of the management buyout on Intech's operations?

The management buyout is anticipated to enhance Intech's operational flexibility and client alignment, with no impact on current asset management.