Janus Henderson Eyes Saudi Arabia for Regional Expansion and Investment Opportunities
Janus Henderson Group Plc is exploring opportunities in Saudi Arabia to expand its presence in the Middle East and boost regional investment. According to CEO Ali Dibadj, opening an office in the kingdom is a "likely outcome," although no official decision has been made.
Baraa Amir, a Saudi national, has recently been appointed as Executive Director for the Middle East and Africa. He will play a key role in "laying the groundwork" for increased investment in the region.
"We're looking to expand for sure because we see a lot of opportunity," Dibadj said. "We are very focused on investing locally."
Saudi Arabia has attracted significant interest from global financial institutions in recent years as the country embarks on significant investment initiatives to diversify its economy. Goldman Sachs, BlackRock, and State Street Corp. are among those that have established regional headquarters in Riyadh.
Janus Henderson currently manages assets in the "low double digit billions of dollars" for Middle Eastern clients, including sovereign wealth funds and family offices. The firm also has offices in the United Arab Emirates and launched a private capital division focused on emerging markets last year.
The firm has benefited from the growing demand from institutional investors for easy access to European and US collateralized loan obligations (CLOs). Janus Henderson followed suit last month with its own CLO exchange-traded fund (ETF) after Fair Oaks Capital's pioneering launch in Europe.
Dibadj believes the Middle East can also capitalize on the interest in CLOs. "The beauty of that structure is that it is quite transportable," he said.
Clients are increasingly seeking exposure to fixed income assets, Dibadj noted. "There is cash on the sidelines. People are looking for opportunities to enter the fixed income marketplaces."