Janus Capital Group Inc. says it should soon purchase an additional 50 percent interest in U.S. value manager Perkins, Wolf, McDonnell and Company for $90 million. Certain parts of the proposed deal must be approved by shareholders; but if the pending deal closes later this year, Janus would own 80 percent of the Chicago-based firm. Janus also says it will introduce the Janus Adviser Perkins Large Cap Value Fund for U.S. investors in late 2008.
"Perkins has been a key strategic partner for Janus and we have great confidence in its investment professionals and research-driven approach to value investing," explains Janus CEO Gary Black.
Following the acquisition, Perkins, Wolf, McDonnell and Company plans to change its name to Perkins Investment Management. In addition, the Janus mid-cap value funds will be renamed to reflect the Perkins acquisition.
