Legg Mason has agreed to acquire Martin Currie, an active international equity specialist based in the United Kingdom.
Financial terms of the transaction were not disclosed.
With offices in six locations, Martin Currie expands Legg Mason’s product capabilities in active equity strategies including global equity, global emerging markets, Asian equity, European equity and strategies specifically focused on Japan and China.
“Martin Currie’s active international equity capabilities fill our largest product gap and are a perfect complement to our existing investment capabilities,” says Joe Sullivan, president and CEO of Legg Mason.
The transaction is expected to be slightly accretive to Legg Mason’s earnings in the first year and is scheduled to close during the fourth quarter of 2014.
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