DUBAI, May 2 (Reuters) - Global asset manager Janus

Henderson ( JHG ) plans to buy National Bank of Kuwait's alternative

investments business in a deal that is expected to strengthen

its position in emerging markets and its access to clients in

the Middle East.

As part of the deal, the team at NBK Capital Partners

(NBKCP) will join the $353 billion asset manager as the firm's

new emerging markets private capital division, according to a

joint statement on Thursday.

The value of the transaction, which is subject to regulatory

approval, was not disclosed.

Established in 2006, NBK Capital Partners advises across

emerging markets including the Middle East and North Africa, and

its private credit strategy has attracted investment from some

of the region's biggest sovereign wealth funds.

Money managers are vying for a slice of the growing private

credit market that emerged after the 2008 financial crisis.

Private credit funds are increasingly competing with banks,

including for financing large company buyouts.

That has attracted the attention of sovereign wealth funds

in the Gulf, including Mubadala Investment Company, Qatar

Investment Authority and Saudi Arabia's Public Investment Fund.

The deal is "expected to provide Janus Henderson ( JHG ) with the

access to engage with new clients in the Middle East, and

globally, who want to actively invest in emerging markets,

thereby expanding its footprint in the region," the statement

said.

NBKCP will retain its investment independence and will

receive strategic support from Janus Henderson ( JHG ) as part of the

relationship across the entire platform.

The NBKCP team is expected to join Janus Henderson ( JHG ) in the

second quarter, subject to regulatory approvals and other

customary closing conditions.

Janus Henderson ( JHG ) also plans to launch a number of emerging

markets focused alternatives strategies in the second half of

2024.