Key Takeaways
- • Franklin Templeton has entered a definitive agreement to acquire a majority interest in Apera Asset Management, a pan-European private credit firm with over €5 billion in AUM, according to a Business Wire announcement dated June 4, 2025.
- • Upon completion, Franklin Templeton's global alternative credit AUM would rise to $87 billion and total pro-forma alternative AUM would reach approximately $260 billion, both as of April 30, 2025.
- • Apera focuses on senior secured lending to private equity-backed companies in the European lower middle market, a segment the firm describes as underserved relative to the broader private credit landscape.
- • Apera recently closed its third flagship fund family at €2.9 billion, above its target, which the firm cites as evidence of investor demand for European private credit.
- • The transaction is expected to close in Q3 2025, subject to customary regulatory approvals and closing conditions.
Summary
Franklin Resources, Inc. (NYSE: BEN), operating as Franklin Templeton, announced on June 4, 2025 that it has signed a definitive agreement to acquire a majority interest in Apera Asset Management ("Apera"), a pan-European private credit manager with more than €5 billion in assets under management. The deal is intended to extend Franklin Templeton's global alternatives platform and its direct lending capabilities across Europe's lower middle market, according to the company's announcement via Business Wire.
The acquisition would lift Franklin Templeton's global alternative credit AUM to $87 billion and its total pro-forma alternative asset AUM to approximately $260 billion, based on figures as of April 30, 2025. Apera would complement the firm's existing alternative credit businesses, Benefit Street Partners in the United States and Alcentra in Europe, adding geographic diversification and further depth within private credit. Franklin Templeton reported $254 billion of alternative AUM as of the same date, within total firm AUM of $1.54 trillion.
Founded in 2016 and headquartered in London with offices in Germany, France and Luxembourg, Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. Apera describes itself as operating across DACH, the UK, Nordics, France and Benelux with a team of 55 people. The firm recently closed its third flagship fund family at €2.9 billion, exceeding its target.
Klaus Petersen, Founding Partner of Apera, said the transaction "marks an exciting new chapter" and that the firm expects to accelerate strategy growth with Franklin Templeton's scale. David Manlowe, CEO of Benefit Street Partners, called Apera a strong strategic fit that adds a distinct lower middle market segment to the firm's global private credit capabilities. Jenny Johnson, CEO of Franklin Templeton, said the acquisition reflects the firm's commitment to building a global alternatives platform.
The transaction is expected to close in the third quarter of 2025, subject to customary regulatory approvals and closing conditions.
The acquisition would lift Franklin Templeton's global alternative credit AUM to $87 billion and its total pro-forma alternative asset AUM to approximately $260 billion, based on figures as of April 30, 2025. Apera would complement the firm's existing alternative credit businesses, Benefit Street Partners in the United States and Alcentra in Europe, adding geographic diversification and further depth within private credit. Franklin Templeton reported $254 billion of alternative AUM as of the same date, within total firm AUM of $1.54 trillion.
Founded in 2016 and headquartered in London with offices in Germany, France and Luxembourg, Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. Apera describes itself as operating across DACH, the UK, Nordics, France and Benelux with a team of 55 people. The firm recently closed its third flagship fund family at €2.9 billion, exceeding its target.
Klaus Petersen, Founding Partner of Apera, said the transaction "marks an exciting new chapter" and that the firm expects to accelerate strategy growth with Franklin Templeton's scale. David Manlowe, CEO of Benefit Street Partners, called Apera a strong strategic fit that adds a distinct lower middle market segment to the firm's global private credit capabilities. Jenny Johnson, CEO of Franklin Templeton, said the acquisition reflects the firm's commitment to building a global alternatives platform.
The transaction is expected to close in the third quarter of 2025, subject to customary regulatory approvals and closing conditions.
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