Investment manager Janus Henderson has acquired two firms, including the private investments arm of National Bank of Kuwait (NBK).

The company has acquired wealth manager NBK Capital Partners from National Bank of Kuwait and ETF provider Tabula Investment Management, the firm confirmed this week.

Janus Henderson has signed a deal with NBK Wealth, the wealth management arm of the National Bank of Kuwait Group, to acquire NBK Capital Partners (NBKCP) -  NBK Wealth's private investments team.

The team will form Janus Henderson's new emerging markets private capital division. 

In a second deal Janus Henderson has entered into an agreement to acquire Tabula Investment Management, a European independent ETF provider with a focus on fixed income and sustainable investment solutions.

Both deals are expected to be completed in the second quarter 2024, subject to regulatory approvals. The cost of the takeovers has not been disclosed.

Ali Dibadj, CEO at Janus Henderson, said:  “We continue to execute our strategic objectives and we are extraordinarily pleased to partner with the talented professionals at both NBKCP and Tabula. These transactions represent strategic steps to amplify existing strengths and diversify where clients give us the right to win.

“The M&A pipeline remains active and these bolt-on acquisitions reflect only the beginning of what we believe will be several future partnerships to meet our clients' needs and support the growth of Janus Henderson”.

The company also announced its first quarter results this week. AUM was up by 5% quarter on quarter to $352.6bn (£282.08m) but net outflows were £3bn (£2.4bn) reflecting “net inflows in intermediary and outflows in institutional,” the firm said.

First quarter 2024 operating income fell to US$119.2m (£95.36m) compared to US$143.7 million (£11.4.96m) in the fourth quarter of 2023 and US$100.4 million (£80m) in the first quarter 2023.