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Bailey McCann, Opalesque New York:

Denver-based Janus Capital Group, the new home of Bill Gross, is out with news of its second major acquisition – VS Holdings the parent company of VelocityShares. VelocityShares is a provider of institutional ETPs and ETFs that manage volatility.

Opalesque has previously reported on a number of VelocityShares products and sub-advisory relationships. The products allow investors to go both long and short volatility and offer daily rebalancing.

The transaction includes an initial upfront cash consideration of $30 million and is expected to close in the fourth quarter of 2014. The deal will add to Janus’ hedge fund and pension fund books.

VelocityShares was founded in 2009 and is managed by Nick Cherney, Richard Hoge and Steve Quinn. The products will continue to be overseen and distributed by the existing management team and through existing distribution channels. Most recently, VelocityShares launched an ETF offering aimed at long-term investment portfolios focused on volatility hedged equities and equal risk weighted solutions, this product line is well aligned with Janus’ approach and existing offerings.

VelocityShares is based in Darien, Connecticut and has approximately $2 billion of assets under management.

"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 s......................

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