Deals & People

Janus Boosts Stake in Value Manager

Janus Capital Group Inc. has announced plans to pump another $90 million into U.S. value manager Perkins, Wolf, McDonnell and Company, LLC.
Reported by Nevin E. Adams

The Denver-based fund company says that would represent an additional 50% ownership interest in the Chicago-based money manager, once the transaction closes later this year. According to a press release, acquiring a respected value-oriented investment firm enables the company to offer a more broadly diversified range of investment products and complements Janus’ growth and risk-managed product lineup.

Janus also announced plans to launch Janus Adviser Perkins Large Cap Value Fund for U.S. investors in late 2008. The fund, which is based on an existing institutional strategy, will be managed by PWM co-portfolio managers Tom Perkins and Kevin Preloger.

Name Changes

The proposed deal includes subadvisory agreements that must be approved by shareholders of the affected funds. Following the acquisition, Perkins, Wolf, McDonnell and Company, LLC will change its name to Perkins Investment Management LLC. In addition:

  • the Janus Mid Cap Value Funds will change their names to Perkins Mid Cap Value Funds
  • the Janus Small Cap Value Fund will be renamed Perkins Small Cap Value Fund and
  • the Janus Small Company Value Funds will become Perkins Small Company Value Funds.

Outside of the U.S., the PWM-subadvised Janus Capital Funds PLC – Janus US Strategic Value Fund will change its name to JCF Perkins US Strategic Value Fund, subject to board and regulatory approvals.