Franklin Resources, Inc. better known under its operating
name, Franklin Templeton Investments, says it has agreed to acquire a majority
stake in K2 Advisors Holdings, an independent fund of hedge funds manager. This
acquisition, it says, will enhance Franklin Templeton’s alternative investments
and multi-asset solutions platforms.
For its part, K2, we are told, will use the proceeds to
purchase all of the equity currently held by TA Associates and to retire all of
K2’s debt obligations. The current management of K2 will not sell any of its
interests at this time and will receive no up-front consideration in this
transaction. Beginning in 2016, Franklin Templeton will acquire the remainder
of K2 over a multi-year period. The transaction is subject to certain
conditions including regulatory approval and is expected to close in the
calendar fourth quarter of 2012.
BNP Paribas Securities Services Launches Pension Fund Risk Monitoring Tool
BNP Paribas Securities Services reports the launch of a market risk monitoring tool for pension funds, enabling trustees to see a complete view of the market risk to their entire portfolio.
It says that by calculating the market risk against each individual security in a fund’s portfolio, the tool determines the market risk across the entire portfolio with higher accuracy than when calculated based on individual reports from disparate external sources.
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