We congratulate Kumar Palghat and his team for closing their global M&A deal this week with NYSE listed Janus Capital Group.
Janus, a global investment business with over US$189 billion in assets under management, acquired a 51% interest in Kapstream.
The transaction involved upfront consideration of at least A$110 million, and also allows Janus to acquire the remaining 49% stake in the future.
Janus' fixed income business is led by Bill Gross, the founder of PIMCO, which grew to have over US$2 trillion under management before Bill Gross left to join Janus in September 2014.
The deal also involved negotiations with Challenger Group (ASX: CGF) for its boutique investment arm (Fidante) to exit their investment in Kapstream, and negotiating fresh long term distribution, RE and administrative services agreements with Fidante.
W Advisers represented Kapstream's management vendors on the transaction.