Franklin Resources, Inc., which operates as Franklin Templeton Investments, made back-to-back announcements this week that it has acquired stakes in two relatively small−yet strategic−alternative investment businesses.
On Wednesday, the San Mateo, Calif.-based mutual fund giant announced that it has acquired a 20% stake in Pelagos Capital Management. Pelagos, an independent investment advisor based in Boston, specializes in commodities, managed futures and hedge fund replication strategies.
"One of the ways that we have built Franklin Templeton's global business is by making strategic investments in small, yet highly experienced asset management companies whose expertise complements Franklin Templeton's global offerings and meets our world class standards," Greg Johnson, CEO of Franklin Templeton Investments, said in a statement. "This new relationship with Pelagos is an important step within our overall plan to expand Franklin Templeton's alternative strategies platform."
On Thursday, Franklin announced the acquisition of Rensburg Fund Management for $72 million. Based in Leeds, U.K. and founded in 1985, Rensburg specializes in managing unit investment trust management dating. The group has $1.4 billion in AUM as of Nov. 1.