Franklin Resources, which operates as Franklin Templeton Investments, has acquired the remaining 80% stake of alternative investments specialist Pelagos Capital Management, to become a 100% equity stakeholder.
Franklin Templeton acquired its initial 20% equity stake in Pelagos in 2010.
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William Yun, executive vice president, Franklin Templeton Alternative Strategies, said: "The continued expansion of Franklin Templeton’s alternatives and solutions platform has been a core strategic initiative for our business.
"The completion of the Pelagos acquisition represents an important step in our efforts to create new investment strategies and broaden our offerings across multiple distribution channels," Yun added.
Pelagos, an independent investment advisor founded in 2005 by Stephen Burke and John Pickart, is based in Boston, Massachusetts.
Pelagos’ commodities and managed futures strategies are currently available as underlying investments within the Franklin Templeton Multi-Asset Real Return Fund, the Franklin Templeton Allocator Fund Series, and Franklin LifeSmart Retirement Target Funds, all of which are managed by Franklin Templeton Multi-Asset Strategies.
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By GlobalDataFranklin Templeton Alternative Strategies oversees the company’s specialized and alternative investment businesses globally.
