Under the agreement, the Heyman team will provide investment management services through a new institutional investment management subsidiary.
The new subsidiary, called Franklin Templeton Servicios de Asesoría Mexico, will be led by Timothy Heyman. He will assume the role of CEO of the new venture.
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Established in 1985, Heyman y Asociadas currently has $1.1 billion in assets under management. It specializes in managing pension funds, endowment funds, reserves and treasury funds for Mexican and multi-national corporations.
Commenting on the deal, Michel Tulle, senior director for Franklin Templeton Americas, said: "This transaction permits us to expand significantly our presence in the institutional asset management market in Mexico."
The deal is subject to regulatory approval and the terms of the transaction have not been disclosed.
Additionally, Heyman may also assume the role of chairman and member of the board of Franklin Templeton Asset Management Mexico upon completion of the transaction.
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