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Clifford will report to Mat Gulley, executive vice president, head of Alternatives for Franklin Templeton, and will work closely with K2 Advisors, as an area of focus, as well as with the rest of the Alternatives team.

"We are excited to welcome someone of Shane's caliber to the Alternatives management team at Franklin Templeton. He is a proven leader, having developed new and grown existing product and business lines in the alternatives space for global firms-specifically in private equity and infrastructure investing," said Gulley. "Shane will provide valuable insight to Franklin Templeton's Alternatives team, and we very much look forward to leveraging his well-rounded experience to help expand our alternatives offerings."

Clifford, who will be based in Stamford, CT, said, "I am excited to have this opportunity to work with Mat and the Alternatives team to help expand existing and develop new offerings for Franklin Templeton. Franklin Templeton has always been at the forefront of innovation, and I am excited to be a part of an organization that is focused on delivering unique investment solutions to its clients."

Franklin Templeton's Alternatives capabilities include private equity, hedge, commodities, real estate, infrastructure and venture capital strategies from Darby Overseas Investments, Franklin Real Asset Advisors, Franklin Venture Partners, K2 Advisors, Pelagos Capital Management, Templeton Global Macro and Templeton Private Equity Partners.

Clifford has deep experience with nearly 20 years in the industry, including many years in the alternatives business. He most recently served as senior managing director, global head of corporate strategy at EnTrustPermal, where he was a member of the management team working on the combination of Permal and EnTrust and was responsible for transitioning Permal's institutional clients to the new firm.

Prior to that, he served as executive vice president and global head of business development at Permal Group, where he sat on a three-person executive committee responsible for managing the day-to-day operations of the firm and broadening and executing Permal's global business development strategy. While at Permal, he built and managed a sales team that raised the US institutional assets under management from $300 million to more than $4.5 billion. Additionally, he led the development of new products, including '40-Act registered offerings, private placements, UCITS, a domestic Chinese local joint venture fund as well as its US Private Wealth Custom Solutions business.

Previously, Clifford was with BlackRock working in the UK, Middle East and Latin America. Clifford began his career at Merrill Lynch.

Clifford received a Bachelor of Arts degree from the University of Limerick in Ireland and an MBA from Boston University Graduate School of Management.