The National Bank of Kuwait (NBK) has agreed to sell its alternative investments business to Janus Henderson a deal that is expected to strengthen the global asset manager’s position in emerging markets and its access to clients in the Middle East.
Under the deal, NBK Wealth’s private investments team will join Janus Henderson as the firm’s new emerging markets private capital division. 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.
The value of the transaction, which is subject to regulatory approval, was not disclosed.
Founded in 2006, NBK Capital Partners advises across private credit and private equity strategies in emerging markets including the Middle East and North Africa. The private investments team has secured $1.1 billion in capital commitments to date and built an impressive 18-year history of performance and growth.
NBK Capital Partners has a proven track record of success in the region, having advised on investments in 40 companies with 27 portfolio exits.
The alternative investments firm has a strong history of innovation and was instrumental in developing the region’s first dedicated private credit fund 15 years ago, which returned a 17% gross internal rate of return and ranked among the top-performing mezzanine debt funds globally in its vintage year.
Their private credit strategy has attracted investment from some of the region’s largest sovereign wealth funds and consistently delivered positive returns on every investment since 2009.
NBK Capital Partners will retain its investment independence and will receive strategic support from Janus Henderson as part of the relationship across the entire platform. The private investments team is expected to join Janus Henderson in Q2 2024, subject to regulatory approvals and other customary closing conditions.
Janus Henderson plans to launch several emerging markets-focused alternative strategies in the second half of 2024.
