Janus Henderson, which announced its acquisition of National Bank of Kuwait (NBK) Wealth’s private investment team in May, has got all the necessary regulatory approvals to close the deal.
The wealth management arm of NBK entered a partnership with Janus Henderson to bolster its private capital division, effectively bringing NBK Wealth’s private wealth investment team to Janus Henderson’s new emerging markets private capital arm.
The private investments team at NBK Wealth was established in 2006 and secured $1.1bn in capital commitments, as of May 2024.
Following the acquisition, NBK Capital Partners will be renamed ‘Janus Henderson Emerging Markets Private Investments Limited’.
On the closure, Meshal AlFaras (Pictured), Janus Henderson Investors’ Head of Middle East, Africa and Central Asia, said: ‘We are thrilled to have completed this acquisition, which promotes our expansion strategy in the Middle East and GCC region where we are closely monitoring potential future investment opportunities.’
He added that the deal enables the firm to better serve clients who are increasingly seeking differentiated investments in alternative investments in private credit, including evolving opportunities in emerging economies especially in the region.
London-headquartered Janus Henderson has been in the region since the opening of its Dubai International Financial Centre office in 2012. As of June 30, 2024, the global asset manager had approximately $361.4bn in assets under management, more than 2,000 employees, and offices in 24 cities worldwide.
Private credit continues to interest high and ultra high net worth families with assets in the range of $1m to $10m, Yaser Moustafa, director of NBKCP told Citywire Middle East in an earlier interview.
‘From a retail, high net worth and family office perspective, clients just want yield,’ he said. While for asset managers like Janus Henderson, shifting from public market vehicles to private means serving client demand but also ‘larger fees’ and ‘stickier money.’
