apanese insurer Dai-ichi Life will divest its entire stake of 17 percent in the UK’s asset management company Janus Henderson as it gears up to boost its global business plans.
It is reported that the asset management company has established a strategic partnership with the insurer. Dai-ichi Life will assist Janus Anderson to lead its business in Japan as part of the partnership, while both the companies will also develop and distribute new products.
The stake sell will be carried out through an underwritten public secondary offering of $30.67 million shares at $29.25 per share. Janus Henderson plans to acquire shares worth up to $230 million.
Chief executive officer Dick Weil of Janus Henderson, told the media, “Although we’re disappointed to lose Dai-ichi as a shareholder, today’s news does not change the path that Janus Henderson is on to deliver simple excellence across our business. Dai-ichi Life President Seiji Inagaki adds that the relationship between the companies has benefited both our organisations over the last eight years, and we are pleased that our partnership will continue.”
Janus Henderson was established in 2017 through a merger between Janus Capital and UK’s Henderson. While Dai-ichi Life had been working with Janus Capital since 2012. It is reported that Janus Henderson possessed $402 billion worth of total assets under management, as of December last year and Dai-ichi Life possessed assets worth $349.6 billion.
The global asset management segment has been hampered by the pandemic like any other segment.