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Franklin Templeton Investments to acquire AlphaParity

Franklin Templeton (BEN) Investments (BEN) announced Tuesday that it will acquire AlphaParity, a risk-premium manager.

The deal is expected to close by the end of February. Terms were not disclosed, said Megan Ingersoll, a Franklin Templeton spokeswoman.

The entire 11-person AlphaParity investment team, based in New York and London, will join the Franklin Templeton Solutions platform. AlphaParity, a macro-focused quantitative money manager, runs $500 million in global premiums and negative correlation strategies for a mostly institutional client base.

“AlphaParity's quantitative approach to asset allocation, focusing on both fundamental and technical analysis, and ability to create its own risk premia strategies fits well with Franklin Templeton's existing industry-leading risk premia research efforts,” said William Yun, executive vice president of alternative strategies, in a news release.

Assets currently managed by Franklin Templeton in risk-premium strategies are not available, Ms. Ingersoll said.

“We look forward to partnering with Franklin Templeton and its strong product development teams, well-established global distribution networks and deep institutional relationships,” said Steve Gross, founder and chief investment officer of AlphaParity, in the news release.