Linklaters has advised Franklin Templeton, Inc. through its real estate subsidiary Clarion Partners, LLC, (“Clarion”) on the acquisition of a majority stake in Stoneshield Capital (“Stoneshield”). The transaction will triple Clarion’s European assets under management (AUM) to €11bn and bring Franklin Templeton’s total Alternatives AUM to over €265bn.
The transaction is expected to close in the fourth calendar quarter of 2026, subject to customary closing conditions, including the completion of certain regulatory filings.
Stoneshield is a leading European sector-specialist real assets manager with €8bn under management. The firm’s investment strategies are thematic and focused on supply-constrained sectors, including living & student housing, digital infrastructure, science & innovation, hospitality, and critical infrastructure.
Clarion Partners, an SEC registered investment adviser, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe.
Linklaters´ Investments Funds partner Ben Jennings commented: “We are delighted to have advised our client on this important milestone in the expansion of their real assets capability across Europe. It’s another example of the consolidation we’re seeing across the asset management sector, with global managers continuing to look for opportunities to broaden their product set and geographical footprint and deliver a range of investment solutions for their clients”.
An international Linklaters team led by Ben Jennings and Emma Clark advised Franklin Templeton and Clarion on the transaction. The team included experts in Investment Funds, Corporate/M&A, Tax and Financial Regulatory, based in London, Luxembourg, Milan, Madrid and NY. Core team members were Jane Jin, Francesca Nash, Leen Quteineh, Levi Zulman, Silvia Sciancalepore, Megan Law, Lucille Cazala, Dom Markham, Alicia Vidal, Alastair Holt, Elliot Jack.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
