(Bloomberg) -- Franklin Resources Inc. agreed to buy Lexington Partners for $1.75 billion to expand into private equity.
Most Read from Bloomberg
Into the Metaverse: Where Crypto, Gaming and Capitalism Collide
Can a New Mayor Fix Seattle’s Downtown?
The Terrifying Rise of Haunted Tourism
The Best New Restaurants in Washington, Chosen by Top Chefs
In Minneapolis Election, the Future of Policing Is at Stake
The deal will also complement Franklin’s offerings in real estate, private credit and hedge fund strategies, Franklin said in a statement Monday.
Lexington has fee-based assets under management of $34 billion.
Most Read from Bloomberg Businessweek
The Slip-and-Fall King Wants to Save You From Your Next Wipeout
Australia Braces for Life After Covid Zero
Big Teacher Is Watching: How AI Spyware Took Over Schools
Workers Press for Power in Rare Advance for U.S. Labor Movement
You Could Be Competing With Bots to Buy Gifts This Christmas
©2021 Bloomberg L.P.
