(Broadgate Tower, City of London, site of Janus Henderson global headquarters. Source: Swansea Surveys.)

The Guardian Life Insurance Company of America (New York) and Janus Henderson (London), a global asset manager, have formed a multifaceted strategic partnership under which Janus Henderson will become Guardian’s investment grade public fixed income asset manager. As part of the agreement, Janus Henderson will assume management of Guardian’s $45 billion general account fixed income portfolio, which includes investment grade corporates and securitized credit. Janus Henderson was advised by Mayer Brown LLP and Guardian was advised by Debevoise & Plimpton LLP for the transaction.

Guardian investment professionals currently supporting these asset classes will have the opportunity to join Janus Henderson, helping maintain continuity and expand Janus Henderson’s capabilities in insurance asset management. Upon completion of the transaction, Janus Henderson will manage more than $147 billion in fixed income assets globally and over $109 billion on behalf of insurance companies.

The agreement also includes an equity component, with Guardian receiving equity warrants and additional economic consideration. Guardian will commit up to $400 million in seed capital to support Janus Henderson’s development of new fixed income products, particularly in securitized credit and actively managed strategies.

“This strategic partnership with Janus Henderson enhances Guardian’s investment and solutions capabilities and aligns our organizations for long-term, mutual growth,” says Andrew McMahon, Chairman and CEO, Guardian. “By combining Guardian’s exceptional experience with Janus Henderson’s market-leading investment strategies, resources, and capabilities, we will be able to offer innovative investment and wealth management strategies that will benefit customers and policyholders for years to come.”

Complementary Strengths, Alignment for Future Growth

The partnership also includes the co-development of proprietary, multi-asset solution model portfolios for Park Avenue Securities (PAS, New York), Guardian’s dually registered broker-dealer and registered investment advisor. Janus Henderson will deliver investment solutions for PAS’s 2,400 financial advisors, whose clients collectively hold approximately $58.5 billion in assets. The collaboration will include use of Janus Henderson Edge, the firm’s proprietary analytics platform, to support portfolio construction and advisor practice management.

“Janus Henderson is honored to partner with Guardian, one of the largest and most respected life insurers in the U.S.,” says Ali Dibadj, CEO, Janus Henderson. “This multifaceted, innovative partnership leverages our complementary strengths, creates alignment for mutual growth, and intends to achieve mutually beneficial outcomes for policyholders, our clients, shareholders, and employees.”

The transaction is expected to close at the end of the second quarter of 2025.

Guardian Expands Individual Products to Increase Access

Guardian’s Strategic Focus on Supporting Members through Wellness Partnerships