The move marks a significant expansion of Janus Henderson’s presence in the institutional and insurance investment sectors.
Under the agreement, Janus Henderson will manage assets including investment-grade corporate bonds and securitised credit within Guardian’s general account. To ensure continuity and deepen Janus Henderson’s insurance investment expertise, Guardian investment professionals currently overseeing these asset classes will be given the opportunity to transition to Janus Henderson.
Upon completion of the deal, expected by the end of Q2 2025, Janus Henderson’s total fixed income assets under management will grow to over $147 billion, with more than $109 billion managed on behalf of global insurance clients—cementing the firm’s position among the top 15 unaffiliated insurance asset managers worldwide.
In a further show of commitment, Guardian will provide up to $400 million in seed capital to bolster Janus Henderson’s innovation in securitized credit, high-quality active fixed income strategies, and other fixed income capabilities. As part of the deal, Guardian will receive equity warrants and other economic incentives aimed at driving long-term growth and value creation for both firms.
The partnership will also extend to Guardian’s retail investment arm, Park Avenue Securities (PAS), which manages $58.5 billion in client assets through over 2,400 advisors. Janus Henderson and Guardian will co-develop proprietary multi-asset model portfolios tailored for PAS clients. These portfolios will integrate Janus Henderson’s global investment strategy, including tools from its proprietary analytics platform, Janus Henderson Edge, with a focus on enhancing client outcomes and advisor support.
Leaders from both organizations emphasized the long-term, client-centric vision behind the partnership.
“This strategic partnership with Janus Henderson enhances Guardian’s investment and solutions capabilities and aligns our organizations for long-term, mutual growth,” said Andrew McMahon, Chairman and CEO of Guardian. “By combining Guardian’s exceptional experience with Janus Henderson’s market-leading investment strategies, we will offer innovative wealth management solutions that benefit our policyholders and customers well into the future.”
Ali Dibadj, CEO of Janus Henderson, added, “We are honored to partner with Guardian, one of the most respected life insurers in the U.S. This multifaceted, innovative partnership leverages our complementary strengths and supports our client-led vision of expanding in Fixed Income, Multi-Asset Solutions, and Model Portfolios. It reflects the trust that sophisticated asset owners place in our firm.”
The partnership is subject to customary closing conditions and is expected to be finalized by the end of the second quarter of 2025.
