On December 22, 2025, Janus Henderson Group announced its intention to be acquired by Trian Fund Management and its affiliated funds, and General Catalyst Group and its affiliated funds.
Janus Henderson Group (“Janus Henderson”) announced, on December 22, 2025, its intention to be acquired by Trian Fund Management and its affiliated funds (“Trian”) and General Catalyst Group and its affiliated funds (“General Catalyst”). Under the terms of the agreement, the transaction will be set up as an all-cash transaction at an equity value of approximately $7.4 billion. Owners of shares not already owned or controlled by Trian will receive $49.00 per share in cash, representing an 18% premium to the unaffected closing price of Janus Henderson shares on October 24, 2025, the last trading day before the initial Trian and General Catalyst proposal was made public. The transaction is expected to close in mid-2026. Further terms of the deal were not disclosed.
Trian, based in New York, is a registered investment advisor specializing in asset management sector investments. Trian has approximately $5.83 billion in assets under management.
General Catalyst, based in Cambridge, Massachusetts, is a registered investment advisor investing in early stage companies. General Catalyst has over $43 billion in assets under management.
Janus Henderson (NYSE: JHG), based in London, is a registered investment advisor offering investment management services across several asset classes. Janus Henderson has approximately $484 billion in assets under management.
Goldman Sachs is acting as the financial advisor to the boards of Trian, General Catalyst and Janus Henderson on the transaction.
Jefferies Financial Group and Citi are acting as financial advisors to Trian and General Catalyst on the transaction.
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