Franklin (BEN) Closes Putnam Acquisition, Adds $142B in AUM

Franklin Resources, Inc. (BEN) completed the acquisition of Putnam Investments, a global asset management firm, from Great-West Lifeco on Jan 1, 2024. Putnam had $142 billion (excluding PanAgora) in assets under management (AUM) as of November 2023. Hence with the acquisition, Franklin’s AUM as of Nov 30, 2023, increased to $1.55 trillion from the $1.37 billion reported as of fiscal 2023 end.At the time of deal announcement in May 2023, the acquisition of Putnam was valued at around $925 million in a stock- ...