The Guardian Life Insurance Company of America, one of America’s largest life insurers and providers of employee benefits, has partnered with Janus Henderson Group plc, a global asset manager.
Under the terms of this agreement, Janus Henderson will become Guardian’s investment grade public fixed income asset manager.
This collaboration will see Janus Henderson manage the $45 billion investment grade public fixed income portfolio for Guardian’s general account, which will include investment grade corporates and securitised credit.
A key aspect of this partnership is the seamless transition of expertise. Guardian investment professionals currently responsible for these asset classes will have the opportunity to join Janus Henderson.
This move aims to ensure continuity in the management of these assets while further enhancing Janus Henderson’s specialised insurance investment capabilities.
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Once the transaction is completed, Janus Henderson will manage over $147 billion in fixed income assets globally and over $109 billion for global insurance companies, greatly expanding the firm’s institutional reach and insurance presence.
The partnership positions Janus Henderson as a top-15 unaffiliated insurance asset manager.
Additionally, Guarding will allocate up to $400 million in seed capital. This investment is aimed to fuel Janus Henderson’s ongoing innovation in securitized credit and high-quality active fixed income products, along with other key fixed income capabilities.
This builds on the success of Janus Henderson’s active fixed income ETF suite, which includes JAAA, the largest CLO ETF4, JBBB, which provides exposure to floating-rate CLOs generally rated BBB, JSI, which invests in opportunities across the U.S. securitized markets, JMBS, the largest actively managed mortgage-backed securities ETF5, and VNLA, an active global short duration income ETF.
Andrew McMahon, Guardian Chairman and Chief Executive Officer, said: “This strategic partnership with Janus Henderson enhances Guardian’s investment and solutions capabilities and aligns our organizations for long-term, mutual growth. Our shared culture of collaboration and dedication to our clients make them a natural partner for Guardian.
“By combining Guardian’s exceptional experience with Janus Henderson’s market-leading investment strategies, resources, and capabilities, we will be able to offer innovative investment and wealth management strategies that will benefit customers and policyholders for years to come.”
The partnership will benefit from Janus Henderson’s innovative investment approach as an expert active asset manager and a pioneer in active fixed income ETFs, the firm stated.
As part of this strategic partnership, Guardian will receive equity warrants and other economic consideration designed to support a shared goal of accelerating growth and driving value creation.
Moreover, Guardian and Janus Henderson will also co-develop proprietary, multi-asset solution model portfolios for Park Avenue Securities (PAS), Guardian’s dually registered broker-dealer and registered investment advisor with over 2,400 advisors managing around $58.5 billion of client assets.
As a key partner, Janus Henderson will create investment solutions for PAS clients, leveraging its full suite of global investment allocation and solutions capabilities, including Janus Henderson EdgeTM, an award-winning proprietary analytics platform.
This collaboration is expected to broaden and enhance investment opportunities for PAS clients and provide dedicated support and practice management for Guardian’s team of national financial representatives and their clients.
Ali Dibadj, Chief Executive Officer of Janus Henderson, commented: “Janus Henderson is honored to partner with Guardian, one of the largest and most respected life insurers in the U.S. Together we will work to help shape the financial futures of millions of customers, creating a brighter future together. This multifaceted, innovative partnership, founded on a shared set of client-focused values, leverages our complementary strengths, creates alignment for mutual growth, and intends to achieve mutually beneficial outcomes for policyholders, our clients, shareholders, and employees.
“This strategic partnership also supports the execution of Janus Henderson’s client-led vision of amplifying our strengths in Fixed Income, Multi-Asset Solutions, and Model Portfolios, while greatly expanding our presence in the institutional market and insurance space. Guardian’s selection of Janus Henderson speaks to the trust that the most sophisticated asset owners in the world have placed in Janus Henderson.”
This partnership transaction is expected to close at the end of the second quarter of 2025.
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