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.
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.