The founders of value shop Perkins Investment Management
have put up for sale most of their remaining ownership stake to parent company Janus
, according to P&I
The trade pub notes that Janus acquired a 30 percent stake in Perkins Investment in 2004 and another 50 percent of the active value equity manager in 2008. Moreover, CEO Peter Q. Thompson
told the publication that out of the three founders — Thomas McDonnell
, Robert Perkins
and Greg Wolf
— only Mr. Perkins now is active in the firm, serving as a PM.
reports that the the contract terms permit Perkins' founders to require Janus to purchase all or part of their holdings at fair value in 2013 or 2015, according to the company's 2012 10-K filing. The fair value of the Perkins stake will be determined on Aug. 1, using a formula driven by investment performance and revenue. Perkins' minority stake was valued at $35.3 million as of Dec. 31, according to the filing.
Read more in P&I
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