Putnam Investments Announces Merger with Franklin Templeton in $925 Million Deal

BOSTON, November 08, 2023--Putnam Investments announces that 19(a) notices are available for the following distributions declared on October...

In a significant development in the asset management industry, two prominent families with Average Parent Ratings, Franklin Templeton and Putnam Investments, have decided to merge. The merger will see Franklin Templeton acquire Putnam Investments for a staggering $925 million, along with a substantial investment from Great-West Lifeco. This move comes as part of Franklin Resources' ongoing acquisition spree, solidifying its position as a leading money manager.

The merger between Franklin Templeton and Putnam Investments is expected to create one of the largest asset management firms in the industry. Under the deal, Franklin Templeton will acquire Putnam Investments from Great-West Lifeco for nearly $1.3 billion, while PanAgora will remain with Putnam Investments. The combined entity will have a significant market presence and a diverse portfolio of investment offerings.

Putnam Investments, a Boston-based global money management firm, has been a long-standing pillar in the community. With its iconic logo and extensive operations in Boston, the merger has raised questions about the impact on the fund manager's local operations. It remains unclear how the new corporate parent will affect Putnam's presence in Boston.

The partnership between Franklin Templeton and Putnam Investments is built on a strong foundation. Franklin Templeton has entered into a definitive agreement to acquire Putnam Investments, cementing their commitment to the merger. The deal signifies the strategic move by both companies to enhance their market position, expand their client base, and provide a wider range of investment options.

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