Fund giant Franklin Templeton is acquiring Putnam Investments, a Boston-based global money management firm, in a deal worth $925 million. The acquisition also includes a substantial investment from Great-West Lifeco, further solidifying Franklin Templeton's presence in the asset management industry.
The acquisition marks a significant move for Franklin Templeton, as it expands its investment offerings and strengthens its position in the market. The deal will be completed through a combination of stock and cash, with Franklin Templeton paying as much as $1.3 billion in total.
Putnam Investments has been a well-known and respected player in the investment community for decades. With its logo being a staple in the Boston area, the firm has built a strong reputation for its expertise in money management.
The Trustees of The Putnam Funds have declared distributions following the acquisition. This move showcases the commitment of both Franklin Templeton and Putnam Investments to their investors and the continued growth of their respective funds.
Franklin Resources Inc. (NYSE:BEN), the parent company of Franklin Templeton, has announced its plans to acquire Putnam Investments. This strategic move will further enhance Franklin Templeton's portfolio and expand its reach in the asset management industry.
The acquisition of Putnam Investments from Great-West Lifeco for nearly $1.3 billion is part of Franklin Templeton's growth strategy. Additionally, PanAgora, another subsidiary, will remain with Franklin Templeton, further strengthening its position in the market.
This deal represents a significant expansion for Franklin Templeton, particularly in the alternatives and retirement plans sectors. The acquisition aligns with the company's goal of becoming a leader in these areas and acquiring new assets to manage.
The impact of the acquisition on Putnam Investments' Boston operations remains uncertain. With the new corporate parent, there may be changes in the organizational structure and strategies. However, the extensive history and presence of Putnam Investments in Boston make it an integral part of the local financial community.
Putnam Investments has recently announced the launch of a new actively managed exchange-traded fund (ETF) called Putnam Emerging Markets ex-China ETF. This new product will provide investors with exposure to emerging markets while excluding China.
