WASHINGTON (dpa-AFX) - Franklin Templeton Inc. (BEN) on Tuesday said its real estate subsidiary Clarion Partners entered into a definitive agreement to acquire a majority stake in Stoneshield Capital, a European real assets manager.
The transaction is expected to close in the fourth quarter of 2026.
The transaction will triple Clarion's European assets under management to $13 billion and increase its total AUM by 12% to $82 billion.
The company's total Alternatives AUM will exceed $300 billion.
Stoneshield manages about $9 billion across sectors including living and student housing, digital infrastructure, science and innovation, hospitality and critical infrastructure.
The company said that Stoneshield will become Clarion's dedicated opportunistic investment platform in Europe while retaining its offices across Spain, Portugal, Ireland, the UK and Luxembourg.
The company also mentioned that Co-founders Juan Pepa and Felipe Morenés will remain with the business and continue to lead its investment strategy, growth and daily operations.
In the pre-market trading, Franklin Templeton is 0.03% lesser at $34.73 on the New York Stock Exchange.
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