Mon, Sep 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Franklin Templeton completes acquisition of majority stake in K2

Thursday, November 01, 2012
Opalesque Industry Update - Franklin Resources, Inc., which operates as Franklin Templeton Investments, has announced that it has completed the acquisition of a majority stake in K2 Advisors Holdings LLC (operating through its subsidiaries, “K2”), an independent fund of hedge funds manager, enhancing Franklin Templeton’s alternative investments and multi-asset solutions platforms.

The proceeds of this transaction by Franklin Templeton will be used by K2 to purchase all of the equity currently held by TA Associates and to retire all of K2’s debt obligations. The current management of K2 has not sold any of its interests and has not received any up-front consideration in this transaction. Franklin Templeton will acquire the remainder of K2 over a multi-year period.

William Yun, CFA, executive vice president, Franklin Templeton Alternative Strategies, said, “The continued development of our alternatives platform has been a core strategic initiative for Franklin Templeton, and to that end, we’ve focused on creating new investment strategies and broadening our distribution capabilities across multiple channels. K2 is an important addition to those capabilities, particularly as institutional investors continue to shift allocations towards the hedge fund and fund of hedge funds space and to look for multi-asset solutions providers.”

K2, co-founded in 1994 by William A. Douglass III and David C. Saunders, is a fund of hedge funds solutions provider with strong risk management, manager selection and asset allocation capabilities. The group has a proven multi-team investment process and manager evaluation expertise that has resulted in over 18 years of strong growth and performance that ranks among the leaders in the industry. Douglass and Saunders, K2’s founding managing directors, have entered into long-term employment arrangements in connection with the transaction and will continue to manage the business. No changes are planned for the K2 investment management processes.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali