Guardian Life Insurance Co. of America hired Janus Henderson Investors to manage its $45 billion investment-grade public fixed-income portfolio, according to a news release.
Guardian will also commit up to $400 million of seed capital intended to accelerate Janus Henderson’s development of securitized credit and active fixed-income strategies, as well as other fixed-income capabilities.
At the completion of the transaction, Janus Henderson will manage more than $147 billion in fixed-income assets globally and more than $109 billion for global insurance companies. As of Dec. 31, Janus Henderson had a total of $378.7 billion in assets under management.
Guardian investment professionals currently supporting the relevant fixed-income strategies will have the opportunity to join Janus Henderson.
Guardian and Janus Henderson will also co-develop model portfolios for Guardian’s dual-registered broker-dealer and investment adviser, Park Avenue Securities, which has about $59 billion of client AUM.
“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,” said Andrew McMahon, Guardian’s chairman and CEO, in the news release.
Janus Henderson was advised by Mayer Brown, and Guardian was advised by Debevoise & Plimpton.
