California-based investment manager Franklin Templeton Investments is to acquire Scottish boutique fund management company, Edinburgh Partners, for an undisclosed sum.
Sandy Nairn who founded Edinburgh Partners in 2003, having himself worked for Franklin Templeton between 1990 and 2000, will become chairman of Templeton Global Equity Group and remain investment partner and chief executive of Edinburgh Partners. He will report to Stephen Dover, Franklin Templeton’s head of equities.
The transaction is expected to be completed in the first half of 2018.
Jenny Johnson, president and chief operating officer of Franklin Resources, said: “This is the latest example of the firm continuing to make strategic investments in relatively small, yet highly experienced asset management teams that complement Franklin Templeton’s global offerings.”
In February 2017 Franklin Templeton acquired risk premium manager, AlphaParity and in September 2012 it took a majority stake in K2 Advisors, an independent fund of hedge funds.
Edinburgh Partners had approximately $10 billion (€8.16 billion) in assets under management (AuM) on December 31, 2017.
Templeton Global Equity Group had over $101 billion in AuM on December 31, 2017.
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