Franklin Resources to acquire majority interest in Apera Asset Management

Franklin Resources (BEN) announced it has entered into a definitive agreement to acquire a majority interest in Apera Asset Management. The acquisition will expand Franklin Templeton’s global alternatives platform and its direct lending capabilities across Europe’s lower middle market. With the acquisition of Apera, Franklin Templeton’s global alternative credit AUM would increase to $87B and the firm’s total pro-forma alternative asset AUM would grow to approximately $260B, each as of April 30. This transaction is expected to close in Q3, subject to customary regulatory approvals and closing conditions.