Why Legg Mason is Keen on Buying Clarion Partners
Baltimore-based Legg Mason Inc., like many U.S. asset managers, have sought ways to generate more fee income. At the same time, Legg Mason knows that real estate allocations are growing for wealth funds, pensions and insurance companies. Second, large real estate investment firms are rarely on the block for sale, compared to traditional asset managers. Legg Mason acquired Australian infrastructure investment firm RARE Infrastructure Ltd. in July 2015 for US$ 205 million.
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