Why Franklin Templeton Is Buying Putnam Investments

Fund giant Franklin Templeton is buying Putnam Investments for $925 million and receiving a substantial investment from Great-West Lifeco, Putnam’s parent company and a subsidiary of Power Corp. of Canada.

In addition to the Putnam acquisition, Franklin Templeton (ticker: BEN) and Power (TSX: POW) are entering into a long-term strategic partnership that will see the Canadian company transfer $25 billion in assets under management to Franklin Templeton over the next 12 months.