Who Owns Putnam Investments After Great-West Lifeco's Sale

Putnam Investments has undergone a significant change in ownership, and it's essential to understand who currently owns the company.

In 2016, Great-West Lifeco sold Putnam Investments to a new owner. This change in ownership has had a significant impact on the company's operations and management.

The sale was a result of Great-West Lifeco's efforts to focus on its core businesses and divest non-core assets.

The new owner of Putnam Investments is a well-established financial institution with a strong track record in the industry.

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Franklin Resources acquired Putnam Investments from Great-West Lifeco, Inc.

The acquisition was completed on January 1st, 2024, after being announced the previous year.

Putnam Investments is a global asset management firm with $142 billion in AUM as of November 30, 2023.

The transaction added a target date fund range and complementary investment capabilities to Franklin Templeton's portfolio, including stable value, ultra short duration, and large cap value.

Franklin Templeton's AUM increased to $1.55 trillion as of November 30, 2023, following the acquisition.

Great-West Lifeco became a long-term shareholder in Franklin Resources, Inc.

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Great-West Lifeco sold Putnam Investments to Franklin Templeton for approximately $925 million of primarily equity consideration, with an additional $100 million paid in cash six months after closing.

The deal was announced in 2023 and was expected to close in the fourth quarter, pending regulatory approval. Franklin Templeton will acquire Putnam's $136 billion in assets under management, bringing its total AUM to $1.55 trillion as of November 30, 2023.

Great-West Lifeco will retain a 4.9% stake in Franklin Templeton for a minimum five-year period and will also keep its controlling interest in quantitative asset manager PanAgora.

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