The firm has advised Franklin Templeton Investments on the acquisition of independent fund manager Edinburgh Partners, which is headed up by Dr Sandy Nairn, former director of research at Templeton Global Equity Group. The transaction is subject to regulatory approvals and is expected to be completed in the first half of 2018. The terms of the transaction are confidential.
Edinburgh Partners runs two investment companies; the £145m Edinburgh Partners Global Opportunities trust, launched in 2003, and the £404m European Investment Trust, launched in 1972 and taken over by the firm in 2010 from F&C Management. It also runs a number of open-ended institutional mandates such as the European Opportunities and Emerging Opportunities funds. In total, Edinburgh Partners manages approximately £7.2bn as of 31 December 2017. Dr Nairn will become Chairman of the Templeton Global Equity Group.
Franklin Resources, Inc. (NYSE:BEN) is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes - including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California-based company has more than 70 years of investment experience and $753bn in assets under management as of 31 December 2017. For more information, please visit investors.franklinresources.com.
Colin Leaver, head of Asset Management and Investment Funds at Simmons & Simmons commented “We are delighted to have had the opportunity to work with Franklin Templeton on this acquisition, we have seen a lot of M&A activity in the sector over the last 18 months and we see this continuing over the next few years,” he continued “Our multi-disciplinary team were able to provide Franklin Templeton with a great deal of sector knowledge and insight enabling the deal to move as quickly as it did.”
In recent months the firm has also advised Invesco on the acquisition of Source Holdings and Principal Global Investors (PGI) on the acquisition of INTERNOS, a London based European real estate Investment Manager. In addition, the firm also advised Mitsubishi UFJ Trust and Banking Corporation on its role as lead shareholder in the £11bn merger of Aberdeen and Standard Life.
