New York-based Templeton Asset Management has announced its Templeton Emerging Markets Group‘s exit from all investments held in Templeton Strategic Emerging Markets Fund II, established in 2005. The $132.5 million fund generated a net IRR of 34.3 percent, net of all expenses and fees.
Templeton Emerging Markets Group today announced the successful exit from all investments held in the Templeton Strategic Emerging Markets Fund II (“TSEMF II” or “the Fund”). TSEMF II was established in 2005 and is led by Dr. Mark Mobius, executive chairman of Templeton Emerging Markets Group.
The US$132.5 million TSEMF II generated a net internal rate of return (IRR) of 34.3% (net of all expenses and fees including performance fee), and a net multiple of cost (MoC) of 2.1 times. All 12 investments were fully exited in less than 7.5 years since the Fund’s initial close.
The Fund made strategic private equity investments in listed and unlisted companies across a variety of sectors throughout global emerging markets such as China, India, Russia, South Korea and Central Eastern Europe.
The Fund’s investment strategy was focused on growth stage investments that involved adding new capital to companies in healthcare, consumer and light infrastructure.
About Franklin Templeton and Templeton Strategic Emerging Markets Fund II
Templeton Strategic Emerging Markets Fund II (“TSEMF II”) is a Limited Duration Company incorporated in the Cayman Islands and available only to institutions and sophisticated investors that make strategic investments throughout emerging markets. TSEMF II is managed by the Templeton Emerging Markets Group of Templeton Asset Management Ltd (“TAML”), which has more than 50 investment professionals based in 18 offices located throughout emerging markets. The Templeton Emerging Markets Group is headed by Dr. Mark Mobius, who has over 40 years of emerging markets investment experience. The team manages over US$45 billion as of September 30, 2012.
TAML is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over US$768 billion in assets under management as of November 30, 2012. For more information, please visit franklinresources.com.