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US Darby Overseas acquired by Franklin Templeton Investments for $76m

US emerging markets private equity firm Darby Overseas Investments has been acquired by Franklin Resources, a division of Franklin Templeton Investments, for $75.88m. Franklin Resources already owned 12.66 per cent of the firm.

‘We are very pleased to bring Darby Overseas Investments on board to expand our investment offerings in the alternative strategies arena and further meet the needs of our institutional and fiduciary individual clients,' said Charles Johnson, chairman and chief executive officer of Franklin Resources, who has served on Darby's board since 1994.

‘Darby's strong brand recognition and established track record in emerging markets private equity and mezzanine finance make it an excellent fit and solid strategic investment for our organisation.'

As one of the initial investors in Darby, Franklin Templeton Investments has also participated in three of Darby's six emerging markets private equity and mezzanine funds.

‘Darby will benefit from Franklin Templeton's outstanding reputation and international presence,' said Darby CEO Richard Frank. ‘With this support, we look forward to expansion by launching new private equity and mezzanine funds in emerging markets.'

‘With their distribution capabilities and established presence in markets around the globe, they are uniquely positioned to support our objective of being the industry leader in emerging markets private equity and mezzanine finance,' he said.

Darby Overseas sponsors and manages funds for institutional investors and high-net-worth individuals that invest in Latin American private equity. Through its funds in Asia and Latin America, the firm is also the leading private mezzanine investment firm for emerging markets.

Franklin Resources is a global investment organisation operating as Franklin Templeton Investments. Franklin Templeton provides global and domestic investment management services through its Franklin, Templeton, Mutual Series and Fiduciary Trust subsidiaries. The company has approximately $287 billion in assets under management.

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