Franklin Templeton Acquires Lexington Partners
April 1, 2022
Franklin Resources, Inc. (operating as Franklin Templeton) completed the acquisition of Lexington Partners L.P., a global manager of secondary private equity and co-investments, on April 1, 2022. The deal expands Franklin Templeton's alternative asset capabilities, adding Lexington's approximately $57 billion AUM and a global footprint while preserving Lexington's brand and investment strategy.
- Buyers
- Franklin Resources, Inc. (Franklin Templeton)
- Targets
- Lexington Partners L.P.
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Buyout
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Franklin Templeton, through its real estate subsidiary Clarion Partners, entered into a definitive agreement to acquire a majority stake in Stoneshield Capital, a European real assets investment manager with approximately $9 billion in assets under management. Stoneshield will become Clarion’s dedicated opportunistic investment platform in Europe, while co-founders Juan Pepa and Felipe Morenés will continue to lead the business and retain the remaining stake; closing is expected in Q4 2026.
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Franklin Templeton agreed to acquire 250 Digital, including its liquid cryptocurrency strategies and investment team previously run as a CoinFund spinoff. The firm is launching a new institutional crypto investment division, Franklin Crypto, co-led by Christopher Perkins and Seth Ginns, and expects the transaction to close in Q2 2026 (subject to customary conditions).
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Franklin Templeton (Franklin Resources) Acquires Putnam Investments from Great-West Lifeco
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Franklin Resources, Inc. (operating as Franklin Templeton) completed its acquisition of Putnam Investments from Great-West Lifeco on January 1, 2024. The deal brings complementary asset-management capabilities and increases Franklin Templeton's retirement and insurance-related AUM, while Great-West becomes a long-term shareholder in Franklin Resources.
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Franklin Templeton Acquires Legg Mason
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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.
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