London-headquartered fund manager Janus Henderson Group is to be sold to two private equity firms in a £5.5bn cash deal steered by US billionaire investor Nelson Peltz.

The investment firm will be acquired by Trian Fund Management, owned by activist investor and billionaire Nelson Peltz, and General Catalyst for $7.4 Billion (£5.5bn).

The deal will take Janus Henderson Group (JHG) into private ownership.

Janus Henderson shareholders will receive $49 (£37.60) per share in cash with the deal representing an 18% premium  to the closing price on 24 October.

The two companies say they will make “significant long-term investment” in Janus Henderson's product offerings, client services, technology and talent.

Trian Fund Management and General Catalyst Group Management say they have this week entered into a “definitive agreement” under which Janus Henderson will be acquired by Trian and General Catalyst in an all-cash transaction.

The investor group includes the Qatar Investment Authority and Sun Hung Kai & Co. Limited, among others.

Trian, an investment firm which already operates in the asset management sector, currently owns 20.6% of JHG shares and has been a shareholder since 2020, with board representation since 2022.

General Catalyst is a global investment company with a focus on applying AI to boost business operations. The deal is one of several transactions that the Trian and the General Catalyst teams have accomplished together, the firms said.

Janus Henderson, which has a substantial UK operation, will continue to be led by the current management team with Ali Dibadj as CEO. It will maintain its main presence in London and Denver, the firm said.

The transaction is expected to complete in mid-2026 and is subject to regulatory approvals and acceptance from Janus Henderson’s shareholders.

Janus Henderson chairman John Cassaday said: “After careful review of the proposed transaction and its alternatives, we have determined that this transaction is in the best interest of Janus Henderson, its shareholders, clients, employees, and other stakeholders and delivers compelling certainty and cash value to our public shareholders at a meaningful premium to the unaffected share price.”

Ali Dibadj, chief executive officer of Janus Henderson, said “We are pleased with Trian’s and General Catalyst’s interest in partnering with us, which is a strong affirmation of our long-term strategy.

“During our 91-year history, Janus Henderson has been public and private at different times, and it has never lost focus on investing in a brighter future together for its clients and employees.

“With this partnership with Trian and General Catalyst, we are confident that we will be able to further invest in our product offering, client services, technology, and talent to accelerate our growth and deliver differentiated insights, disciplined investment strategies and world-class service to our clients.”

Nelson Peltz, CEO and founding partner of Trian, said: “Our team at Trian has successfully invested in and grown many iconic public and private companies over the years. As a significant shareholder of JHG with board representation since 2022, we are proud of the company’s performance in recent years led by Ali and his outstanding team.

“We see a growing opportunity to accelerate investment in people, technology, and clients. The partnership with General Catalyst allows us to bring our shared entrepreneurial spirit and complementary strengths across operational excellence and technological transformation to Janus Henderson.”

As of September 30, 2025, Janus Henderson had approximately £372bn in assets under management, more than 2,000 employees and offices in 25 cities worldwide. The firm is headquartered in London and listed on the New York Stock Exchange.