05:35 AM EDT, 06/04/2025 (MT Newswires) -- Franklin Resources ( BEN ) said Wednesday it has agreed to acquire a majority stake in pan-European private credit firm Apera Asset Management.

Based in London, Aspera provides senior secured private capital solutions with over 5 billion euros ($5.7 billion) in assets under management.

The deal will expand the company's global alternatives platform and direct lending capabilities and boost assets under management to $87 billion.

Terms of the deal were not disclosed.

Closing of the deal is expected to occur in Q3, subject to regulatory approvals and closing conditions.