Janus Henderson Loses Top Investor as Client Exodus Persists
- Japanese insurer Dai-ichi to sell its stake for $897 million
- Asset manager saw clients withdraw $24.4 billion last year
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Janus Henderson Group Plc is losing its biggest shareholder as the fund manager fails to stem a client exodus that’s lasted for more than three years.
Dai-ichi Life Holdings Inc. will exit after selling its nearly 17% stake for about $897 million to focus investment on its global insurance business, statements from Janus Henderson show. The asset manager plans to buy $235 million of the stock in the offering, which was priced at $29.25 a share, a 1.1% discount to Thursday’s close.