Franklin Resources acquired a 20% equity stake in Pelagos Capital Management, an independent alternatives investment manager with $377 million in assets, confirmed William D. Weeks Jr., spokesman for Franklin.
Terms were not disclosed, Mr. Weeks said in an e-mail response to inquiries.
Pelagos’ investment strategies include commodities, managed futures and hedge fund replication, which Franklin Resources does not currently have.
Pelagos management owns the remaining 80% of the firm.