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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.