Templeton to roll out $300m emerging markets fund
Franklin Templeton is planning to raise $300 million for its fourth emerging markets private equity fund. The fund will provide growth capital to companies in global developing markets.
Similar to its precursors, the new vehicle will have a six-year lifespan and have a sub-tranche for Asia investments, managing director Ong Tek Khoan told Reuters.
One-third of the Asian tranche will be invested in China, with the remainder equally spread between India and Southeast Asia. The fund will also seek investments in Central and Eastern Europe, which have been hit by the euro debt crisis.
The first closing of the fund is targeted for the end of April.
Franklin Templeton has previously launched three private equity funds focused on emerging markets. The first two, which are both $110 million in size, returned more than 100% at the end of their six years.
In March 2010, the asset management firm held a final close for its third emerging markets fund at $180 million. That vehicle is already fully invested.
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