First foray into pensions

Franklin Templeton takes stake in pensions group Embark

Investment management firm Franklin Templeton is expected to take a stake in pensions group Embark which recently acquired Alliance Trust Savings’ £6 billion adviser platform.

It will see Franklin Templeton become the Embark’s second-biggest investor and help support Embark’s acquisition strategy.

Franklin Templeton will join other big ticket investors BlackRock, FNZ, Legg Mason and the Merian Chrysalis fund on the share register at Embark which is in the process of buying Zurich Wealth and Investments.

California-based Franklin Templeton last year acquired Scottish fund boutique Edinburgh Partners for an undisclosed sum.

This latest deal is the first external investment Franklin Templeton has made into the UK’s retirement and wealth sector, and is part of its global strategy to take strategic stakes in companies that are disrupting traditional business models with technological innovation.

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