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Janus Henderson to acquire Tabula IM as part of European ETF market push

US asset manager also announces deal for NBK Capital Partners, reports Christian Mayes


PA Europe

Janus Henderson has entered the European ETF market after the firm announced it had reached an agreement to acquire Tabula Investment Management.

The acquisition builds on Janus Henderson’s active fixed income ETF proposition in the US, where it is the fourth largest provider of active fixed income ETFs by assets under management.

Janus Henderson said it expects to retain all existing Tabula products and will utilise the platform to launch a range of new active ETF products under a UCITS wrapper.

Meanwhile, the US asset manager has also bought the private investments division of NBK Wealth, the wealth management arm of the National Bank of Kuwait Group.

NBK Capital Partners will become Janus Henderson’s new emerging markets private capital division.  The firm expects both deals to complete by the end of June.

‘Strategic steps’

Ali Dibadj, CEO at Janus Henderson, said:  “We continue to execute our strategic objectives and we are extraordinarily pleased to partner with the talented professionals at both NBK Capital Partners and Tabula.

“These transactions represent strategic steps to amplify existing strengths and diversify where clients give us the right to win.

“The M&A pipeline remains active and these bolt-on acquisitions reflect only the beginning of what we believe will be several future partnerships to meet our clients’ needs and support the growth of Janus Henderson.”

In a Q1 trading update, Janus Henderson also revealed its AUM had increased 5% in the quarter and 14% compared to Q1 2023, reaching $352.6bn (£282.3bn) at the end of March.

However, the firm recorded $3bn net outflows, with net inflows in intermediary offset by outflows in institutional offerings.

The Janus Henderson board also announced a further share repurchase programme under which the firm may acquire up to $150m of its shares. It comes after the firm returned $145m in capital to shareholders through dividends and share buybacks in Q1.