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Switzerland,United States : HENDERSON'S acquire GENEVA CAPITAL

June 30, 2014

Henderson Global Investors entered into an agreement to acquire the entire issued share capital of Geneva Capital Management.

Henderson s taking over Geneva with US $6.3 billion (A $6.82 billion) assets under management (AUM) in mid- and small-cap US growth equities, is a milestone in the development of its North American business.

Geneva will add US equity investment capabilities and extend US institutional client base.

The acquisition was by consideration of US $130 million; deferred consideration linked to revenue retention of up to US $45 million; and growth-related earn-out of up to US $25 million.

It expects it to be underlying earnings accretive in the first full year post acquisition.

Henderson s North American business continues to grow rapidly, doubling its AUM since 2011.

In May 2014, the US mutual fund range reached US $10 billion for the first time, with net inflows of US $1.4 billion in the year to date.

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Source: TendersInfo (India)

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