Franklin Templeton Buys Majority Stake In $9B Fund Manager

Law360, New York (September 19, 2012, 3:49 PM EDT) -- Top-ranked mutual fund manager Franklin Resources Inc. has broadened its alternative investment offerings with the the purchase of a majority stake in K2 Advisors Holdings LLC, a fund-of-hedge-funds manager with more than $9 billion under management, the buyer announced on Wednesday.

Franklin, which does business as Franklin Templeton Investments, eventually will acquire all of K2 over several years beginning in 2016, according to a statement from the mutual fund firm. The buy gives Franklin a broader array of options in the alternative investment space, an arena...
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