Investment Duo Form Private Equity Firm

Robbie Lawther Assistant Editor 17 September 2018

Investment Duo Form Private Equity Firm

The new firm will provide investors with global private equity fund-of-funds solutions.

Franklin Resources, a global investment management organisation operating as Franklin Templeton Investments, has entered into a new joint venture with Asia private equity fund-of-funds specialist Asia Alternatives Management.

The firms are partnering to launch Franklin Templeton Private Equity, a new entity being formed to provide investors with global private equity fund-of-funds solutions, it said in a statement.

Franklin Templeton will be the majority owner, and Asia Alternatives and members of the FTPE management team will hold minority stakes in the new entity. Operations are scheduled to formally begin in October 2018.

FTPE will be led by managing partner, Arthur Wang, who will begin assembling a new team in October. Wang has more than 20 years of private investment and financial services experience and will be joining from San Francisco Employees’ Retirement System (SFERS).

Prior to SFERS, Wang served as the director of private equity for the New York State Common Retirement Fund. Previously, Wang served as executive director and head of US private equity for CDIB Capital, the overseas investment arm of China Development Financial Holdings.

"We see tremendous opportunity for growth in the alternatives and private equity space as investors look to add alpha and increase diversification in their portfolios by accessing a wider range of liquid and illiquid asset classes,” said Jenny Johnson, president and chief operating officer of Franklin Resources. “Expanding our alternatives platform has been a core strategic initiative for Franklin Templeton, and launching this dedicated private equity fund-of-funds business demonstrates our ongoing commitment to developing private market strategies that offer our clients unique asset exposures and return opportunities outside of the public markets.” 

Asia Alternatives, founded in 2005 by Rebecca Xu, Laure Wang and Melissa Ma, is a solutions platform dedicated to helping institutional investors make investments in private equity across Asia. The firm currently has over $11 billion in regulatory capital under management as of 31 July.  Asia Alternatives invests with private equity fund managers across Asia, primarily in Greater China (Mainland China, Taiwan and Hong Kong), Japan, Korea, South East Asia, India and Australia. The firm has approximately 50 professionals and offices across Hong Kong, Beijing, Shanghai and San Francisco.

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