Henderson to buy US asset manager for up to $200m

Henderson global Investors has agreed a deal to buy US fund manager Geneva Capital Management in a deal worth up to $200m (£117m).

Henderson said it has entered into an agreement to acquire the entire issued share capital of Geneva, a mid and small-cap US equity house, for an initial sum of $130m (£76m). A further $70m (£41m) is due over the next five years if various targets are met, while Henderson added it expects to spend a further on transaction and integration of the business. Geneva - a group which focuses on growth equities and which was founded in 1987 - has assets of $6.3bn, and Henderson hopes the deal will boost its presence in North American equities. While Henderson has doubled its US mutual fund...