And two other positions

Legg Mason Acquires Clarion Partners

Date:

Legg Mason Acquires Clarion Partners
Foto: aehdeschaine. Legg Mason sigue creciendo: adquiere Clarion Partners, una minoría en Precidian Investments y combinará Permal con EnTrust Capital

Author: Fórmate a Fondo

  1. Clarion Partners manages $40 billion and will operate as an independent affiliate. Steve Furnary, Chairman and CEO of the firm, will continue in his current role
  2. Legg Mason will acquire an 83% ownership stake in Clarion Partners for $585 million and will pay another $16 millionfor its portion of certain co-investments, while the management team will retain 17% of the outstanding equity
  3. The company also announced it has entered into a definitive agreement to combine Permal, Legg Mason's existing hedge fund platform, with EnTrust Capital in a new company branded EnTrustPermal
  4. Legg Mason also announced that it has acquired a minority equity position in Precidian Investments,