FUNDRAISING NEWS | December 02, 2024
Franklin Templeton has received approval from Luxembourg's financial regulator for its first open-ended strategy focused on private equity secondaries and targeting investors in its wealth channel, Funds Europe reported November 26.
Slated for an early 2025 launch, the strategy will be based in Luxembourg and co-advised by the US-based asset manager and Lexington Partners, according to the publication. Through the new strategy, investors particularly in the wealth channel will gain access to a diversified portfolio of private equity secondaries and to an asset class that has mainly been limited to institutional investors.
Franklin Templeton has focused recent executive moves on expanding both its global investments and alternatives businesses. As reported by Dakota, in mid-November it elevated Global Investments CIO Manraj Sekhon to the firm’s global executive committee and named KKR veteran George Stephan to the newly created position of global COO of wealth management alternatives at the end of October.
