The acquisition is to set to complete in the first half of 2018, subject to regulatory approval.
Headquartered in Edinburgh and with an office in London and two in the US, target company, Edinburgh Partners, currently oversees $10bn worth of assets. The independent fund manager is made up of a team of 12 who invest in global and emerging markets equities with a focus on absolute returns over a long time horizon.
The deal will also see Franklin Templeton alumnus, now Edinburgh Partners chief executive and investment partner, Dr Sandy Nairn (pictured), returning to the fold.
Franklin Templeton is set to lose one of its leading lights, emerging markets guru Mark Mobius, at the end of this month.
Dr Nairn was employed by the investment group for more than a decade and worked alongside the late legendary investor Sir John Templeton. He served as the firm’s executive vice president and director of its global equity research division.
Dr Nairn will become the chairman of Templeton Global Equity Group and report to Stephen Dover, Franklin Templeton’s head of equities. He will remain CEO and investment partner at Edinburgh Partners.
On his return, Dr Nairn commented: “I am very excited to be coming back to Templeton, the company that gave me my great appreciation for global investing. My team and I are deeply familiar with the history and strong reputation of the broader Franklin Templeton organisation, and we’re pleased to join such a well-regarded firm.
“I look forward to sharing my perspective and experience with the Franklin Templeton organization. The access to Franklin Templeton’s extensive global resources will allow me to focus my time on investment management, as we continually seek to bolster our investment process and enhance our clients’ experience.”
