Franklin Templeton completed the acquisition of Putnam Investments from Great-West for $925m.

Franklin Templeton, a private equity firm, completed the acquisition of Putnam Investments, an asset manager, from Great-West, an international financial services company, for $925m. “With complementary capabilities and a track record of strong investment performance, Putnam expands our ability to offer more choice to more clients. The addition of Putnam accelerates our growth in the retirement sector by increasing our defined contribution AUM and expands our insurance assets, further strengthening our presence in these key market segments to better serve all our clients. Putnam also shares our client-focused culture and emphasis on delivering strong investment results. We’re delighted to welcome the talented team at Putnam to Franklin Templeton and are pleased to have Great-West as an investor,” Jenny Johnson, Franklin Templeton President and CEO.