Franklin Resources (BEN) Expands European Presence with Apera Acquisition

Franklin Resources, Inc. (NYSE:BEN) has reiterated its commitment to expanding its global alternative platform and direct lending capabilities across Europe. On June 4, the investment management company signed an agreement to acquire a majority interest in Apera Asset Management.

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With the acquisition, the company gained over €5 billion in assets under management while expanding its footprint into Europe’s growing lower middle market. Following the acquisition, the company’s global alternative credit asset under management is poised to increase to $87 billion. Its pro-forma alternative asset under management will also grow to $260 billion.

The acquisition should assert Franklin Resources’ status as the leading manager of diversified alternative asset strategies. The acquisition will diversify the company’s geographic exposure and capabilities within the private credit asset class.

Klaus Petersen, Founding Partner of Apera, expects the transaction to accelerate the company’s growth strategy while expanding its reach to deliver value for investors. On the other hand, Franklin Resources CEO David Manlowe expects the transaction to add a new dimension to the combined company’s global private capabilities.

Franklin Resources is a global investment management company that provides financial advice and products. It offers a range of investment management and related services to retail, institutional, and high-net-worth clients.

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Disclosure: None.