Janus (JNS) Announces Plans to Purchase Additional Stake in Perkins, Wolf, McDonnell and Company, LLC For $90 Million
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Janus Capital Group (NYSE: JNS) announced plans to purchase an additional 50% ownership interest in U.S. value manager Perkins, Wolf, McDonnell and Company, LLC (PWM) for $90 million. Once the pending deal closes later this year, Janus will own 80% of the Chicago-based firm. Acquiring a respected value-oriented investment firm enables the company to offer a more broadly diversified range of investment products and complements Janus' growth and risk-managed product lineup.
Janus also announced plans to launch Janus Adviser Perkins Large Cap Value Fund for U.S. investors in late 2008. The fund, which is based on an existing institutional strategy, will be managed by PWM co-portfolio managers Tom Perkins and Kevin Preloger.
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