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Global insight, local depth

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A proposed combination focused on better client outcomes LCP and JANA have announced that they are to merge, [subject to completion of Regulatory Approvals].

This is an exciting step towards creating a broader, more deeply resourced investment advisory business — combining LCP’s strategic investment, pensions, analytics, technology and sustainability expertise with JANA’s established investment consulting and manager research capabilities.

  • JANA is one of Australia’s leading investment consultants, uniquely management owned and advising the majority of the country’s superannuation funds, as well as a broad range of insurers, charities, endowments, government entities and wealth advisers across Australia and New Zealand for nearly 40 years.
  • LCP is a leading management owned UK consultancy, providing independent advice across pensions funds, charities, endowments, central banks and sovereign wealth funds in the UK and internationally for nearly 80 years, LCP also specialise in insurance, energy, and health consulting and analytics.

The proposed combination is subject to final agreements, relevant approvals and customary completion conditions. Until completion, LCP and JANA remain separate businesses, continuing to serve clients as usual. [link to press release]

Shared values, complementary cultures

As owner-managed businesses, LCP and JANA are both built on a long-term commitment to clients, colleagues and high-quality independent advice.

We share a belief that the best advice comes from rigorous thinking, strong relationships and a genuine focus on clients’ long-term interests. We also bring complementary perspectives and experience from two sophisticated institutional investment markets: the UK and Australia.

That combination of shared values and complementary cultures is central to our ambition. It will help us bring together greater scale and breadth of expertise while retaining the responsiveness, accountability and senior attention that clients value.

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What this could mean for clients

The proposed combination is founded on a shared ambition: to help institutional investors make better-informed decisions in an increasingly complex investment environment.

Together, we expect to offer clients:

  • Broader and deeper manager research

    The combined business would bring enhanced global manager coverage, specialist due diligence and ongoing monitoring across public and private markets.

    This would give clients access to a wider range of credible investment options — with research applied to their own objectives, governance arrangements, risk appetite and implementation needs.

    Our focus is not simply on expanding the number of managers we cover. It is on providing deeper insight into the managers, strategies and structures most relevant to each client, and helping them appoint, monitor and challenge those managers with confidence.

  • Market-leading technology, data and analytics

    The combined business would benefit from LCP’s market-leading technology, data and analytics capabilities, alongside the investment expertise and research insight of both organisations.

    This would support more powerful and timely analysis for clients, including:

    • Deeper portfolio and manager look-through
    • More sophisticated risk, scenario and stress-testing analysis
    • Improved access to data and investment insight
    • Clearer, more decision-useful reporting
    • Technology-enabled monitoring of investments, managers and emerging risks

    This combined offering will help clients understand complex information more clearly, identify the issues that matter most and make better-informed decisions.

  • Independent, client-led advice

    Independence, rigorous analysis and advice tailored to clients’ individual circumstances will remain central to the combined proposition.

    Investment managers and solutions will continue to be assessed on their merits, with recommendations based on what is appropriate for each client’s objectives — not on commercial relationships or a one-size-fits-all approach.

  • A distinctive international proposition

    The proposed combination would create a unique independent institutional investment adviser with deep roots in both the UK and Australian pension and retirement markets.

    The combination of LCP’s and JANA’s respective strengths will be distinctive: a broader global manager-research platform, market-leading technology and analytics, and deeper specialist experience — all delivered with local-market knowledge, senior-led advice and exceptional client service.

  • Greater depth of experience and specialist expertise

    Bringing our teams together would create a larger and more diverse community of investment professionals, with wider experience across markets, asset classes and client types.

    Clients would benefit from greater depth in areas including:

    • Investment strategy and portfolio construction
    • Public and private market manager research
    • Risk management and implementation
    • Sustainability, stewardship and climate risk
    • Governance, performance monitoring and reporting
    • [Retirement outcomes and income]
    • [Pension funding and endgame strategy]

    This greater depth would strengthen our ability to support clients facing increasingly complex and interconnected investment decisions — while ensuring advice remains practical and tailored to their circumstances.

Our brand approach

Following completion of the proposed transaction:

  • In Australia and New Zealand, we expect to operate initially under the LCP JANA brand, reflecting the strength and heritage of both businesses in the Australian market.
  • Globally, the combined business will operate under the LCP brand.

This approach is intended to provide continuity for JANA’s Australian clients and partners, while bringing the benefits of a broader international LCP platform.

Desert

Business as usual while the transaction progresses

Until the proposed transaction completes, LCP and JANA remain separate organisations.

Clients should continue to work with their usual teams and contacts, who remain focused on delivering the same high-quality advice and service. There is no change to current client arrangements as a result of the Memorandum of Understanding.

Both the LCP and JANA websites will remain in place during this period. We will share further updates as the proposed combination progresses.

Looking ahead

We are excited by the opportunity to bring together two owner-managed businesses with complementary strengths, shared values and a common commitment to helping clients navigate investment complexity and pursue better long-term outcomes.

The proposed combination remains subject to final documentation, regulatory and other relevant approvals, and customary completion conditions. There can be no assurance that the proposed transaction will complete.

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Let’s talk

If you are an existing client and have questions, please contact your usual LCP or JANA adviser.

For general enquiries, please contact:

  • LCP: [Contact details / link]
  • JANA: [Contact details / link]

For press enquiries please contact:

  • [Add details]