Franklin Templeton to Acquire Lexington Partners


November 29, 2021

On November 11, 2021, Franklin Resources, Inc. d/b/a Franklin Templeton announced that it will acquire Lexington Partners L.P.

Under the terms of the transaction, Franklin Resources, Inc. d/b/a Franklin Templeton (“Franklin Templeton”) will acquire Lexington Partners L.P. (“Lexington”). Lexington will continue to operate independently and its current management team will join Franklin Templeton. The transaction, subject to customary closing conditions, is expected to close in the second quarter of 2022. Further terms of the deal were not disclosed.

Franklin Templeton (NYSE: BEN), based in San Mateo, California, is a global investment management organization, providing services to retail, institutional, and sovereign wealth clients. As of September 30, 2021, Franklin Templeton had approximately $1.5 trillion in assets under management.

Lexington, based in New York City, is a global alternative investment manager primarily offering liquidity solutions to owners of private equity and other alternative investments. Lexington has had $55 billion in committed capital since its inception.

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