Janus Capital acquires majority interest in Kapstream

Bill Gross
Kevin Flynn | CNBC
Bill Gross

Janus Capital Group said Wednesday that it had acquired a majority interest in Kapstream Capital and that Kapstream's Kumar Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.

Gross will remain the primary portfolio manager of the Janus Global Unconstrained Bond strategy, the company said.

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Janus Capital Group said that, with the transaction, the total Janus Global Macro Fixed Income assets under management would be $8.7 billion as of March 31, 2015.

Gross, a widely followed investor, oversees the Janus Global Unconstrained Bond Fund. The fund had $1.5 billion in assets at the end of May, according to Morningstar.

Kapstream is based in Sydney, Australia.