Asset Management

Franklin Templeton turns toward private investing as mutual fund business shrinks

After a string of acquisitions, the firm now manages more than $260bn in alternative assets like private credit

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Private markets firms have found advantages in selling themselves to traditional asset managers such as Franklin Photo: Jeenah Moon/Getty Images

Franklin Templeton, long known as a big investor in stocks and bonds, has quietly become a major force in private markets.

The 77-year-old asset manager made its name marketing mutual funds for individual investors. Thanks to a recent spate of acquisitions, it now manages more than $260bn in so-called alternative assets such as private credit.

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