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|Franklin Templeton Completes Purchase of Majority Stake in Fund of Hedge Funds Specialist K2 Advisors|
Nov 01, 2012 (Marketwire via COMTEX) --Franklin Resources, Inc. (
William Yun, CFA, executive vice president, Franklin Templeton Alternative Strategies, said, "The continued development of our alternatives platform has been a core strategic initiative for Franklin Templeton, and to that end, we've focused on creating new investment strategies and broadening our distribution capabilities across multiple channels. K2 is an important addition to those capabilities, particularly as institutional investors continue to shift allocations towards the hedge fund and fund of hedge funds space and to look for multi-asset solutions providers."
K2, co-founded in 1994 by William A. Douglass III and David C. Saunders, is a world-class fund of hedge funds solutions provider with strong risk management, manager selection and asset allocation capabilities. The group has a proven multi-team investment process and manager evaluation expertise that has resulted in over 18 years of strong growth and performance that ranks among the leaders in the industry. Douglass and Saunders, K2's founding managing directors, have entered into long-term employment arrangements in connection with the transaction and will continue to manage the business. No changes are planned for the K2 investment management processes.
About K2 Advisors
K2 was established in 1994 and has focused its business exclusively on the fund of hedge funds business. The Stamford, CT-based company has a global presence with 115 employees and offices in New York, London, Tokyo, Hong Kong and Sydney. K2 has built organizational, systems and process competencies over 18 years to support investments in alternative and asymmetric return strategies. In 1994, the firm was launched with a single commingled fund of hedge funds product with six underlying hedge fund investments. Today, K2 oversees aggregated assets of approximately US$9.0 billion as of September 30, 2012, more than 65 percent of which is held in over 30 separate accounts or single investor entities that represent some form of strategic partnership with its clients. For more information, please visit www.k2advisors.com.
About Franklin Templeton Investments
Franklin Templeton Alternative Strategies group encompasses:
Morgan Stanley served as financial advisor to Franklin Templeton, and Bank of America Merrill Lynch and Freeman & Co. served as financial advisors to K2.
Franklin Templeton Alternative Strategies is a division of Franklin Resources, Inc. (
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Franklin Templeton Investments Corporate Communications: New York Bill Weeks +1 917-370-9052 (cell) +1 212-632-3204 (office) Email Contact San Mateo Stacey Coleman +1 650-525-7458 Email Contact K2 Advisors Holdings LLC: Sard Verbinnen & Company Jonathan Gasthalter +1 212-687-8080 Email Contact Renee Soto +1 212-687-8080 Email Contact