Activist Trian Builds 9.9% Stakes in Invesco and Janus Henderson

Nelson Peltz’s Trian Fund Management LP has built stakes in Invesco Ltd. and Janus Henderson Group Plc as the activist firm pushes for consolidation in the asset management industry.

Trian has bought up 9.9% of both firms, according to U.S. filings, with the combined positions worth around $900 million based on Thursday’s closing share prices. The money for the purchases came from a fund that Trian has purpose-built to invest in asset managers, according to Dow Jones, which reported the stakes earlier.

Executives from the New York-based investment firm have had conversations with the leadership of Atlanta-based Invesco and are ...