Janus Henderson announced plans for a newly formed and funded joint venture with Privacore Capital (“Privacore”), an open-architecture distributor and trusted consultant for alternative investment products tailored to Private Wealth clients.
This initiative aligns with Janus Henderson’s strategic ambitions to diversify and grow its business. Privacore will tap into a fast-growing market, with a strong leadership team, in a strategically important segment of the industry where Janus Henderson clients have asked for exposure. The initiative positions the firm to grow with our clients and further strengthens Janus Henderson’s credibility as a future partner in strategic M&A in private and alternative asset classes.
“We recognize that the democratization of alternatives among Private Wealth clients is still in the early stages, and this trend presents a significant opportunity for firms with strong relationships with retail intermediaries—like Janus Henderson—to expand the breadth and quality of alternative investment solutions for clients,” said Janus Henderson CEO, Ali Dibadj.
Alternatives as a category represent a $12 trillion-dollar market, with assets expected to roughly double in size over the next 5 years. High-net-worth investors command $80 trillion dollars of assets globally and are expected to account for much of the growth in private markets. Janus Henderson expects that Privacore will play an integral role in bridging the gap between managers of alternative assets and end investors—through diligence, investor education, portfolio construction, and client service—across private equity, debt, real estate, infrastructure, and other non-traditional asset classes.
Privacore will be led by two principals, Brendan Boyle and Bill Cashel, a pair of industry veterans each with proven track records of building leading distribution platforms within dynamic, alternatives-focused businesses.
“We welcome the opportunity to support Privacore’s leadership and expect our partnership will be a winning combination. Janus Henderson’s robust heritage combined with this new entrepreneurial team demonstrates our commitment to ensuring our clients come first—always,” said Dibadj.
“Privacore’s mission to partner with the best-in-class managers of alternative investments, paired with extensive relationships at wirehouses, broker dealers, and RIAs, creates value on both ends of the spectrum—accelerating GP fundraising and bringing differentiated, institutional-quality investment opportunities to a set of clients that are notably under-allocated to alternatives today,” said Brendan Boyle, Privacore CEO, Principal & Co-Founder.
This partnership seeks to provide access to best-in-class, largely private, alternative investments, managed by both third-party investment managers and Janus Henderson, the firm said.
Janus Henderson will initially hold a minority stake in the organization, with a defined path to control in coming years.
The firm plans to formally launch the joint venture towards the middle of the year and will engage with clients and GPs in the second half of 2023, subject to relevant regulatory approvals.
Por Marcelo Soba
Por Funds Society, Madrid