UK fund manager Janus Henderson has entered the emerging markets private capital space after acquiring the wealth management arm of National Bank of Kuwait (NBK).
NBK Wealth’s private investments team will join Janus Henderson as its new emerging markets private capital division.
The team was established in 2006 and has secured US$1.1 billion in capital commitments to date.
HSBC launches wealth management business in Kuwait
Kuwait plans second sovereign wealth fund
The transaction is structured as an acquisition of NBK Capital Partners, a newly established entity in the Abu Dhabi Global Markets for advising and managing alternative investment funds, subject to regulatory approval.
NBK Capital Partners will retain its investment independence while receiving strategic support from Manulife, while director Yaser Moustafa will continue to lead the business.
“Acquiring a private investments capability means we can better serve clients who are increasingly seeking differentiated investments in private credit including evolving opportunities in emerging economies and positions us as pioneers in anticipating and embracing this long-term trend,” said Ali Dibadj, chief executive at Janus Henderson.