Franklin Templeton to acquire Legg Mason

Franklin Templeton to acquire Legg Mason

M&A
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Franklin Resources, Inc. has announced that it has entered into an agreement to acquire Legg Mason, Inc. The addition of Legg Mason’s multiple world-class investment affiliates elevates Franklin Templeton as one of the world’s largest independent, specialized global investment managers with a combined $1.5 trillion in assets under management. 

Legg Mason’s investment affiliates alongside Franklin Templeton’s investment teams will create a company that delivers one of the broadest ranges of high-quality investment expertise in the industry. 

Jenny Johnson, our president and CEO, summarized the acquisition this way: ‘This acquisition will add significant differentiated capabilities to our existing investment strategies with minimal overlap across multiple world-class investment teams and distribution. It brings notable added leadership and strength in core fixed income, active equities and alternatives. The acquisition also expands our multi-asset offerings, a key growth area for the firm to meet increasing client demand for comprehensive, outcome-oriented solutions. We have incredible respect and admiration for the success Legg Mason and its investment affiliates have achieved and  we have therefore structured the transaction to ensure that the affiliates have the right mix of independence and support to continue building on their strong track records.’