Intech Investment Management LLC, a specialized global quantitative equity manager, and Janus Henderson Group announced today that Intech’s management team will acquire the company from Janus Henderson. The transaction is expected to close before the end of the first half of 2022. The financial terms of the transaction were not disclosed.
Upon completion of the transaction, Intech will become a fully independent company, increasing its alignment with clients and providing additional flexibility to deliver enhanced value for clients, partners, employees and all stakeholders. Intech will be 100% owned by the company’s founder, employees, and board members.
As part of the transaction, Intech will form a new board of directors (“the board”) chaired by Churchill Franklin, Co-founder and former CEO of Acadian Asset Management. Franklin will be joined by a highly accomplished and experienced team, including Nobel Laureate Myron Scholes, PhD, and Larry Leibowitz, former COO of the New York Stock Exchange. The new board will assume an active role in overseeing the company’s go-forward strategy and all other aspects of the business.
Jose Marques, PhD, former Head of Trading at Bridgewater Associates, and current CEO of Entrypoint Capital, will become CEO of Intech, overseeing the company’s overall operations, including directing agendas, driving profitability, managing organizational structure, strategy, and communicating with the board. Dr. Marques will also join the board as a director. Adrian Banner, PhD, will transition from his role as CEO and become dedicated CIO of Intech, fortifying the company’s focus on portfolio management and research. He will continue to serve on the board. Jian Tang, PhD, will be promoted to Portfolio Manager, focusing on enhancing Intech’s investment management process.
“As a private, fully independent company, Intech is in the best possible position to focus on portfolio management and research, improve investment outcomes for clients, and deliver long-term value to our stakeholders,” said Adrian Banner, PhD, CEO and CIO of Intech. “Dr. Marques is a proven leader and effective CEO, with more than 30 years of experience in leading thoughtful and systematic transformations, and I am looking forward to partnering with him in this next chapter. He is unquestionably the right choice to lead Intech into a bright new future.”
“We are supportive of Intech’s new ownership structure, as it allows both organizations to focus on their key value propositions: Janus Henderson on providing active, fundamental investing; and Intech on delivering superior quantitative investment solutions to institutional investors,” said Dick Weil, CEO of Janus Henderson. “Intech has a 35-year track record operating as an independently managed company, and in this new chapter Intech is well-positioned to continue its position as a leader in quantitative investing.”
According to Intech, today’s announcement has no impact on how the company manages client assets. Intech will continue the evolution of the investment approach established by our founder in 1987. To help ensure seamless continuity in operations and client service, Intech and Janus Henderson will enter into an ongoing transition services agreement.
