Janus Henderson Group is entering the European exchange-traded funds market with a deal to acquire Tabula Investment Management, the firms said in a joint statement.
European independent ETF provider and investment-grade manager Tabula has more than $500 million in assets under management, with funds strategies listed across 10 European exchanges and a strong focus on fixed income and sustainability.
Janus Henderson, which said on May 2 in a financial update that its AUM had increased by 5% over the quarter ended March 31 to $352.6 billion, has an active ETF offering in the U.S.
The move is set to allow Janus Henderson to respond to client demand for a UCITS ETF wrapper, the statement said.
All existing Tabula strategies and funds are expected to be retained, while Janus Henderson will use the platform to launch a set of new active products.
“We are extraordinarily pleased to be able to partner with the talented professionals at Tabula to help shape the coming evolution in ETFs for European and global investors,” Ali Dibadj, CEO at Janus Henderson Group, said in the statement. “This acquisition positions us at the forefront of this burgeoning trend, enabling us to leverage early opportunities for growth and innovation. Tabula's existing infrastructure and ecosystem offers us instant access to an institutional platform that we believe will position Janus Henderson as a trusted and credible player in the European ETF market, and combining the deep expertise of both firms will allow us to deliver on the continuously evolving needs of our clients.”
The deal does not include Tabula Capital, the active management unit of the firm. Tabula Capital will continue to run as a separate entity focused on systematic credit strategies, the statement said. Co-founders David Peacock and John Weiss will remain as CEO and CIO, respectively, of Tabula Capital.
Financial terms of the deal were not disclosed. The agreement is set to complete in the second quarter, subject to closing conditions including regulatory approvals.
Janus Henderson also said it had entered into a strategic partnership with the wealth management unit of the National Bank of Kuwait Group, whereby the firm’s private investments team will become Janus Henderson’s new emerging markets private capital division.
In September, Cathie Wood's ARK Invest agreed to acquire Rize ETF, allowing it to enter the European market.
