Kirkland Advises Investor Group on $7.4 Billion Acquisition of Janus Henderson

Kirkland & Ellis advised an investor group on a definitive agreement to acquire asset manager Janus Henderson Group plc (NYSE: JHG) for $7.4 billion. The investor group includes General Catalyst Group Management, LLC and its affiliated funds and Trian Fund Management, L.P. and its affiliated funds. Under the terms of the agreement, owners of shares not already owned or controlled by Trian will receive $49.00 per share in cash. The transaction was announced December 22, 2025 and is expected to close in mid-2026 subject to customary closing conditions, including receipt of applicable regulatory approvals, client consents and approval by Janus Henderson’s shareholders.

Read the transaction press release

The Kirkland team included corporate lawyers Christian Atwood, Marshall Shaffer, Halley Petersen and Ernesto Sanz; capital markets lawyers Josh Korff, Sharon Freiman, and Christie Mok; debt finance lawyers Jud Oswald and Justin Greer; tax lawyers Lee Morlock and Steven Cantor; and investment funds lawyers Jon Lipnick, Andrew Fink, Kayla Duffey and Tom Kelley.