Friday 2 October 2020 11:55 am

Activist investor Trian takes stakes in Invesco and Janus Henderson

Activist investor Trian Fund Management has reportedly taken stakes in Invesco and Janus Henderson with plans to pursue further deals.

Trian has built stakes in both Invesco and Janus enderson of 9.9 per cent, with the positions accounting for a combined $900m (£700m), according to the Wall Street Journal.

Read more: Woodford protege Mark Barnett leaves Invesco after 24 years

The money reportedly comes from a Trian fund set up with the aim of consolidating asset managers, which has money remaining to spend on further deals.

The existence of this fund has not previously been reported.

Trian, which is led by Nelson Peltz, believes Invesco has the potential to grow by acquiring rivals such as Janus Henderson, according to the WSJ.

Executives have reportedly held conversations with Invesco leadership.

Invesco and Janus Henderson have both been involved in high-profile mergers and acquisitions with rivals in recent years.

In 2018 Invesco bought Oppenheimer Funds while Janus Capital merged with Henderson Global Investors.

Peltz has a track record of investing in asset managers. He recently took a second stake in Legg Mason before the firm was bought by investment management firm Franklin Templeton in a $4.5bn deal.

In a statement today Invesco said: “We welcome high-quality investors in Invesco.”

“We value shareholder input and regularly engage with our major shareholders in a constructive dialogue aimed at further strengthening our business and driving long-term, sustainable growth.” 

Read more: Janus Henderson struggles to shake client jitters as outflows pass $17bn

A spokesperson for Janus Henderson told City A.M.: “We regularly engage with and consider input from our shareholders, and, while it is the Company’s policy not to comment on the specifics of discussions with individual shareholders, the Company notes that it only heard from Trian on Thursday regarding its investment.”

“We continue to make significant progress to increase profitability, drive organic growth, and identify and deliver cost savings, and are committed to delivering meaningful value for shareholders.”