Geneva Capital Management joins Henderson Global Investors
CHICAGO, June 30, 2014
CHICAGO, June 30, 2014 /PRNewswire/ -- Henderson Global Investors
("Henderson") has entered into an agreement to purchase the entire issued
share capital of Geneva Capital Management ("Geneva"). Founded in 1987,
Geneva has assets under management ("AUM") of $6.3 billion in Mid- and
Small-Cap US growth equities.
Henderson Global Investors Logo.
This is an important strategic milestone in the development of Henderson's
North American business, adding US equity investment capabilities and
extending its US institutional client base.
Geneva's long track record managing Mid- and Small-Cap US growth equities,
underpinned by a disciplined and consistent investment process, fills an
important capability gap for Henderson. The transaction doubles Henderson's
number of US-based investment professionals and quadruples Henderson's US
institutional AUM to around $8 billion. It also brings proven institutional
distribution capabilities to complement Henderson's successful retail
franchise, creating a well-balanced client base, split broadly equally between
retail and institutional.
Geneva will continue to employ the same rigorous investment philosophy and
process that has been in place since 1987. Its commitment to high quality
investment strategy and attention to client service will remain unchanged, and
it will continue to operate from Milwaukee, Wisconsin.
Geneva's principals have signed long-term employment contracts and agreed to
reinvest a significant proportion of their net proceeds into the products of
Geneva, becoming valued members of Henderson's equities and North American
The two businesses are highly complementary, particularly in terms of product
range and capabilities, with Geneva adding US-based equity investment
expertise to Henderson's global offering. There is also a strong cultural fit
between the two firms, as both are client-centric organizations that pride
themselves on their collegial environment.
Andrew Formica, Chief Executive of Henderson, said: "Developing our presence
in North America is a strategic priority for Henderson. The acquisition of
Geneva is a major step towards achieving our growth ambitions as a global
asset manager. It will increase our assets under management in the US by over
50%, add investment management expertise in US equities and extend our US
institutional client base.
"We look forward to working with the Geneva team to ensure that all of our
clients benefit from our new partnership. Henderson clients will gain access
to Geneva's strong track record in identifying high quality growth companies
in US equities, while Geneva clients will continue to benefit from a stable
team and an unchanged investment process, backed by a global pure play asset
Jim O'Brien, Managing Director North America of Henderson, said: "We are
tremendously excited to have the Geneva team joining Henderson. They have
built a great business with a team whose culture is consistent and compatible
with Henderson's. More importantly, they have a fierce dedication to their
clients, putting them at the heart of their business. We are looking forward
to working with Geneva to fully realize Henderson's growth ambitions in the
Amy Croen, Co-Founder and Managing Principal of Geneva, said: "The team at
Geneva is excited to join Henderson. With the backing of a strong
international partner who is very supportive of our existing investment
strategy and platform, we look forward to taking our business to the next
stage of its development.
"On behalf of our clients, we will continue to apply the same consistent
investment approach and process that have generated strong risk-adjusted
returns since our founding in 1987."
Michelle Picard, Portfolio Manager and Managing Principal of Geneva,
said:"This transaction will allow us to maintain a strong focus on our most
important objective, managing our clients' investments, while also growing our
business. Cultural fit was an important consideration for both companies in
reaching this agreement, and we are pleased to have found a partner like
Henderson that shares our team-based and collaborative management style."
The transaction is expected to close on October 1, 2014, subject to customary
Founded in 1987, Geneva Capital Management is a US growth equity manager with
assets under management of $6.3 billion as of May 31, 2014, specializing in
Mid-Cap and Small-Cap high quality equity growth strategies. The firm is
headquartered in Milwaukee, Wisconsin and is 100% employee owned, with a team
of 25 including 11 investment professionals.
Geneva's key investment professionals are co-founders Bill Priebe and Amy
Croen, together with managing principals Michelle Picard and Scott Priebe.
This team, which has worked together for over a decade, will continue to
manage Geneva's rigorous investment process and disciplined approach to
portfolio management with commitment to high quality investment strategy and
attention to client service. Nicholas Bauer, Director of Consultant Relations,
will enhance Henderson's growing North American distribution team with his
extensive institutional experience.
The firm's client base is comprised of institutional investors and high net
worth individuals. Institutional investors include public pension funds,
corporate pension and profit sharing plans, non-profit organizations,
endowments and foundations. The firm also acts as a sub-advisor to a number of
third party mutual funds.
Henderson Global Investors, wholly-owned by Henderson Group plc, is an
independent global asset manager, specializing in active investment. Named
after its first client and founded in 1934, Henderson is a client-focused
global business with over 800 employees worldwide and assets under management
of $121 billion (as of 4/1/14). Its core areas of investment expertise are
European equities, global equities, global fixed income, multi-asset and
Henderson is dual-listed on the London Stock Exchange (LSE) and the Australian
Securities Exchange (ASX) and has a market capitalization of approximately
£2.8 billion (May 2014).
Henderson's North American business continues to grow rapidly, doubling its
AUM since 2011. Its Henderson Global Funds mutual funds family reached $10
billion in AUM for the first time in May 2014, with net inflows of $1.4
billion year to date.
Further information can be found at www.henderson.com.
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This press release is solely for the use of members of the media and should
not be relied upon by personal investors, financial advisers or institutional
Henderson Global Investors is the name under which various subsidiaries of
Henderson Group plc, a UK limited Company, provide investment products and
One should consider the investment objectives, risks, fees and expenses of any
mutual fund carefully before investing. This and other important information
is available in the Funds' prospectus and summary prospectus which are
available at www.henderson.com or by calling 1.866.443.6337. Please read the
prospectus or summary prospectus carefully before investing.
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SOURCE Henderson Global Investors
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