Franklin Templeton Acquires Legg Mason
July 31, 2020
Franklin Resources (operating as Franklin Templeton) completed its acquisition of Legg Mason, creating one of the world’s largest independent investment managers with roughly $1.4–$1.5 trillion in combined AUM. The all-cash transaction (approximately $4.5 billion) included assumption of about $2 billion of Legg Mason debt; the firms said Legg Mason’s specialist investment affiliates will retain operational autonomy while benefiting from Franklin Templeton’s global platform and distribution.
- Buyers
- Franklin Resources, Inc. (Franklin Templeton)
- Targets
- Legg Mason, Inc.
- Industry
- Wealth Management
- Location
- Maryland, United States
- Transaction Type
- Buyout
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