VS Holdings/VelocityShares to be acquired by Janus Capital Group

By Jennifer Chiou

New York, Oct. 14 – Janus Capital Group Inc. announced it has agreed to acquire VS Holdings Inc., the parent company of VelocityShares, LLC, in a transaction that includes an initial upfront cash consideration of $30 million.

According to a press release, the acquisition is expected to close in the fourth quarter. Closing is subject to certain conditions, including regulatory approval.

VelocityShares provides institutionally focused exchange-traded products.

“This acquisition positions Janus within the rapidly growing rules-based and active ETF universe, enhancing the customized solutions we can provide to our clients and enabling us to work with the growing segment of financial advisors and institutions focused on these instruments,” Janus chief executive officer Richard M. Weil said in the release.

“Today’s announcement is a continuation of our strategy of intelligent diversification, adding new talent to support innovation and smart solutions for our clients.”

VelocityShares was founded in 2009 and is managed by Nick Cherney, Richard Hoge and Steve Quinn. It has offices in New Canaan and Darien, Conn.

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