Acquiring 80% of the Firm

Legg Mason in Talks to Buy Clarion Partners

Date:

Legg Mason in Talks to Buy Clarion Partners

Author: Fórmate a Fondo

  1. Legg Mason would buy 80% of the firm from Lightyear Capital, in a deal valuing the company at about US$ 850 million
  2. New York-based Clarion's current management, headed by Chairman and Chief Executive Officer Stephen Furnary, will retain 20%
  3. Clarion, which is based in New York and invests in office and retail related real estate, has about US$ 38 billion in assets under management, according to its website