Franklin Templeton raises stake in Algebra Capital

Mar 23, 2009

The US fund house increases its stake in the Mena specialist from 25% to 40% and adds another director to Algebra's board.

US-based Franklin Resources, which operates under the brand Franklin Templeton Investments, has raised its equity stake in Algebra Capital, an asset management company specialising in the Middle East and North Africa (Mena) region, to 40% from the previous 25%.

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