Janus Henderson Completes RBA Acquisition to Expand Models

Janus Henderson Group has completed its acquisition of Richard Bernstein Advisors, a research-driven macro multi-asset investment firm overseeing approximately $20 billion in client assets as of March 20, 2026. The transaction, announced in January, is intended to strengthen Janus Henderson’s position in the model portfolio and separately managed account (SMA) market.

Janus Henderson says the combined capabilities will expand its investment toolkit and increase flexibility and breadth across offerings for clients. The firm also states it will enhance model portfolio and SMA capabilities while preserving RBA’s investment independence and disciplined approach. RBA’s CEO Richard Bernstein and Janus Henderson’s CEO Ali Dibadj both emphasized complementary strengths in research, product innovation, and distribution.