Hints and tips:
...Legg Mason. 2020. Cost: $6.5bn, AUM acquired: $803bn. AdvisorEngine. 2020. Terms not disclosed. Advisors with $600bn of assets use its platform. Benefit Street Partners. 2018. Cost: $683mn....
...Its 2020 acquisition of Legg Mason for $6.5bn including debt remains one of the industry’s largest deals....
...Her hook was Franklin’s big $6.5bn acquisition of Legg Mason, a crucial part of its renewal strategy. But history shows that acquisitions in declining industries are a holding tactic at best....
...Legg Mason accepted the deal terms....
...In contrast with the US, where big funds such as Pimco and Legg Mason were long-term holders of AT1s, Asian investors are typically smaller individuals and enterprises....
...Pimco, Invesco and Legg Mason are among the top holders of Credit Suisse’s AT1 bonds, according to Bloomberg data....
...When the fund launched, ClearBridge was a Legg Mason affiliate and Legg Mason owned a stake in Precidian, which owns the ActiveShares portfolio-shielding technology....
...Pimco, Invesco, BlueBay and Legg Mason are among the longer-term holders of Credit Suisse’s AT1 bonds....
...Whether at Credit Suisse, Legg Mason, BlueMountain or his current gig at Morgan Stanley, he keeps churning out interesting, thoughtful stuff....
...Before buying Legg Mason, the largest deal in Franklin’s 75-year history, the asset manager picked up alternative credit firm Benefit Street Partners for $683mn....
...Its fifth-biggest ETF is the $616mn Legg Mason Low Volatility High Dividend ETF, Morningstar data show....
...Franklin Templeton, which suffered heavy outflows ahead of its 2020 purchase of Legg Mason, has been among the most aggressive buyers of managers of alternative assets, a broad spectrum spanning everything...
...That explains deals such as the merger of active managers Franklin Templeton and Legg Mason....
...After making a tidy return on an investment in Legg Mason following its $6.5bn acquisition by Franklin Templeton, Peltz took a bite out of Invesco and Janus Henderson....
...Franklin Templeton plans to convert the $19mn Legg Mason Small-Cap Quality Value ETF next month from a self-indexed strategy to an active one, and rename it the Royce Quant Small-Cap Quality Value ETF, filings...
...Both Peltz and Garden previously sat on the board of asset managers Invesco and Legg Mason, before the company was acquired by rival Franklin Templeton....
...Joe Sullivan, the former head of Legg Mason — which was bought by rival US asset manager Franklin Templeton for $6.5bn in 2020 — has been named the chief executive and chair of Allspring, which struggled...
...The group has brought in new investors including Bill Miller, former chair and chief investment officer of Legg Mason, through his fund manager Miller Value Partners....
...Sydney-based BetaShares linked up with Legg Mason to launch actively managed ETFs in Australia earlier the same year....
...Franklin Templeton bought Legg Mason for $4.5bn. For State Street, there could be some merit in finding a partner....
...Franklin Templeton’s highest-profile acquisition came in February2020 when it agreed to buy rival Legg Mason for $6.5bn including debt.Both firms had suffered investor outflows the previous year and thedeal...
...The US firm’s workforce increased as a result of its acquisition of Legg Mason in July last year....
...The past four years have hailed megadeals such as Morgan Stanley’s $7bn purchase of Eaton Vance and Franklin Templeton’s $6.5bn acquisition of Legg Mason which initiated both into the $1tn-in-assets club...
...Some, such as Legg Mason and Eaton Vance, have given up on public markets and sold out....
...Fidelity, Legg Mason and American Century have also launched active ETFs under the same structure....
International Edition