Janus Henderson (JHG) said Tuesday it will become the investment-grade public fixed income asset manager for Guardian Life Insurance Company of America in a strategic partnership.

Janus Henderson said it will manage the $45 billion investment-grade public fixed income portfolio for Guardian's general account, which will include investment grade corporates and securitized credit.

Under the partnership, Guardian will receive equity warrants and "other economic consideration," Janus said.

Guardian will also commit up to $400 million of seed capital to help facilitate Janus Henderson's innovation in securitized credit and active fixed income products, the company said.

Janus shares were more than 7% higher in recent trading.

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