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June 2, 2022

Franklin Templeton joins forces with iCapital to offer alternative investments

Franklin Templeton has forged an alliance with fintech platform iCapital to further expand its alternative asset strategies for financial advisers and their clients.

The partnership will see the US-based investment manager tapping iCapital’s customised technology and service solution to expand access to its alternative investments products, including Franklin BSP Capital Corporation (FBCC) and Clarion Partners Real Estate Income Fund (CPREIF).

Franklin Templeton currently manages over $200bn in aggregate alternative assets under management (AUM) across its specialist investment managers.

These include private real estate via Clarion Partners, hedge fund strategies through K2 Advisors, alternative credit through Benefit Street Partners, and secondary private equity and co-investments through Lexington Partners.

Franklin Templeton senior managing director of Alternative Strategies Shane Clifford said: “We are focused on connecting investors with our alternative investment expertise in the places and ways that are convenient for them.

“We offer a comprehensive range of strategies for investors looking to initiate or expand their allocations to alternative asset classes, and we are excited to reach more investors by offering our strategies leveraging iCapital’s digital solution.”

Said to be a non-listed business development company, FBCC majorly invests in first and second lien senior secured loans to predominantly private US middle-market companies with annual revenues up to $1bn.

CPREIF focus on providing individual investors direct access to a portfolio of privately-held, income-producing, institutional-quality commercial real estate properties via an investment fund.

Commenting on the tie-up, iCapital chairman and CEO Lawrence Calcano said: “We are excited to work with Franklin Templeton, a long-standing and significant global investment leader.

“We share a commitment to bring sophisticated alternative investment opportunities to advisors and their clients to help them meet their financial goals.”

Recently, Franklin Templeton signed a deal to purchase BNY Alcentra Group Holdings from BNY Mellon in a deal valued up to $700m.

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