(Reuters) – Asset manager Janus Henderson will manage Guardian Life Insurance’s $45 billion investment-grade public fixed-income portfolio, the companies said in a statement.
Insurance companies have turned to Wall Street firms to invest the premiums they collect from their clients, hoping asset managers will strike higher returns from the market.
As part of the agreement, Guardian will commit up to $400 million of seed capital for the London-based asset manager’s fixed-income product innovation, and receive equity warrants and other economic considerations.
Janus Henderson will be managing over $147 billion in fixed-income assets globally post-completion of the transaction, the companies said.
Guardian, in August last year, moved $30 billion of assets to private credit manager HPS Investment Partners to invest in publicly traded junk bonds, investment-grade private credit and real estate debt and equity.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Vijay Kishore)
