Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Franklin Makes a Not-So-Random Hedge Fund Shop Deal Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, March 23, 2018

Franklin Makes a Not-So-Random Hedge Fund Shop Deal

News summary by MFWire's editors

Franklin Resources (dba Franklin Templeton Investments [profile]) is acquiring again, this time in the Bay Area.

Jenny Johnson, president and chief operating officer of Franklin Templeton, confirmed on Tuesday that the San Mateo, California-based, publicly traded asset manager bought San Francisco-based Random Forest Capital, which was founded in 2016. The pricing and terms of the deal were not disclosed.

The Random Forest team specializes in applying machine learning to "non-bank marketplace lending" and will join Franklin's fixed income group's investment team. Prior to the deal, according to its latest ADV (filed in January), Random Forest was owned by three managing members: chief operating officer and co-founder Kevin Farrelly, chief technology officer and co-founder Austin Trombley, and advisor Aaron Travis. Random Forest runs a $4.89-million hedge fund, according to the filing.

Johnson puts the deal in the context of Franklin's continued "strategic investments and acquisitions in emerging investment-related technologies". Chris Molumphy, chief investment officer of Franklin's fixed income group, describes the Random Forest team "as a creative group of entrepreneurs."

"We have been researching the marketplace lending asset class, but have not invested yet ... We do not have any immediate plans to offer new products," Roger Bayston, senior vice president and director of fixed income at Franklin, tells P&I. "Our initial focus will be on incorporating Random Forest's data science and marketplace lending expertise into our existing capabilities."

Citywire and Fund Action also reported on the deal.

The Random Forest deal comes two months after Johnson unveiled an acquisition of an absolute return global equity specialist in Scotland. Franklin had more than $744 billion in AUM as of February 28, and its fixed income group of more than 150 people had more than $280 billion in AUM as of December 31. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

1.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - BDC Board Service 101, December 10
  2. WE Boston - Give Back Event, December 10
  3. IMEA Distribution Council webinar - Unlocking Your Competitive Edge: Driving Results Through Net Promoter Excellence, December 10
  4. WE New York - End of Year Celebration, December 11
  5. MFDF webinar - ETF Product Trends: Board Implications, December 11
  6. Nicsa webinar - The Virtues of Corporate Culture, December 11
  7. MFDF webinar - Visually Mapping Board Composition: Skills Matrices in Fund Board Rooms, December 18
  8. IMEA webinar - Driving Equity: The FARE Journey and Its Impact on Financial Services, December 19
  9. MFDF webinar - 2024 Fair Valuation Pricing Survey: Building and Strengthening the Valuation Operating Model, January 7, 2025
  10. MFDF webinar - 15(c) White Paper Webinar Series: Part 2 – Board Processes, January 9, 2025
  11. MFDF webinar - AI and Fund Compliance, January 21, 2025
  12. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22, 2025
  13. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  14. FSI OneVoice 2025, January 27 - 29, 2025
  15. 2025 ICI Innovate, February 3 - 5, 2025
  16. MFDF Director Discussion Series - Open Forum, February 10, 2025
  17. MFDF Director Discussion Series - Open Forum, February 11, 2025
  18. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025
  19. MFDF Director Discussion Series - Open Forum, April 2, 2025
  20. Envestnet Elevate 2025, April 9 - 10, 2025
  21. MFDF Director Discussion Series - Open Forum, April 15, 2025
  22. The 36th Sub-Advised Funds Forum, April 29 - 30, 2025
  23. Morningstar Investment Conference 2025, June 25 - 26, 2025
  24. MFDF Director Discussion Series - Open Forum, July 9, 2025




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use