The Chicago-based Henderson Global Investors
has found a giant growth opportunity, in the form of $6.3 billion institutional asset mannagerGeneva Capital Management
, in Milwaukee, Wisconsin.
Geneva, founded in 1987, invests its $6.3 billion in assets in mid- and small-cal US equities. According to the company, the deal will double Henderson's US-based investment professional staff and quadruples Henderson's US institutional AUM to roughly $8 billion.
The deal, which is scheduled to close on October 1, also provides Henderson with an established institutional distribution infrastructure.
In a statement, Henderson chief executive Andrew Formica
, declared: "Developing our presence in North America is a strategic priority for Henderson. The acquisition of Geneva is a major step towards achieving our growth ambitions as a global asset manager. It will increase our assets under management in the US by over 50%, add investment management expertise in US equities and extend our US institutional client base.
According to Henderson, Geneva's principals have signed long-term employment contracts and "agreed to reinvest a significant proportion of their net proceeds into the products of Geneva, becoming valued members of Henderson's equities and North American management teams."
The Chicago-based firm is the U.S. arm of the British and Australian Henderson Group plc, which was founded in 1934 to manage the estates of English railway magnate Alexander Henderson, 1st Baron Faringdon.
The U.S. arm manages ten mutual funds: Emerging Markets Opportunities
; European Focus
; Global Technology
; International Opportunities
; Dividend & Income Builder
; Global Equity Income
; High Yield Opportunities
; Strategic Income
; All Asset
, and Unconstrained Bond
Four years ago, Henderson was a bidder for RidgeWorth
, which ultimately bought its freedom from SunTrust
with backing from Lightyear Capital
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