In 2010, the global investment management firm acquired 20% stake and following this acquisition, it owns 100% stake of Pelagos.
Franklin Templeton Alternative Strategies CFA, executive vice president William Yun said, "The completion of the Pelagos acquisition represents an important step in our efforts to create new investment strategies and broaden our offerings across multiple distribution channels."
Pelagos Capital CEO Stephen Burke commented, "Franklin Templeton’s extensive global platform, product development expertise and established distribution network has helped bring Pelagos’ investment strategies to investors worldwide."
Established in 2005 and based in Boston, Pelagos operates as an independent investment advisor and manages three different alternative investment capabilities including a commodity strategy, a managed futures strategy, and a hedge fund replication strategy.
Franklin Templeton Investments offers global and domestic investment management services and had $846bn in assets under management (AUM) as of 31 May 2013.
