Franklin Templeton, Clarion Partners Acquire Majority Stake in Stoneshield Capital
Franklin Templeton has agreed to acquire a majority stake in European real assets manager Stoneshield Capital through its Clarion Partners subsidiary, significantly expanding the company’s presence in higher-return property and infrastructure strategies across Europe.
The transaction will triple Clarion’s European assets under management to approximately $13 billion, or €11 billion. Clarion’s total assets will rise 12% to about $82 billion, while Franklin Templeton’s alternatives platform will surpass $300 billion.
Founded in 2018 by Juan Pepa and Felipe Morenés, Stoneshield manages about $9 billion across thematic strategies focused on supply-constrained sectors. Its investments span rental and student housing, digital infrastructure, science and innovation properties, hospitality, renewable energy and critical infrastructure.
Stoneshield will become Clarion’s dedicated European opportunistic investment platform, complementing Clarion’s existing real estate capabilities with higher-yield and special-situations strategies.
“The addition of Stoneshield marks an important milestone in Clarion’s buildout of an integrated real assets capability across Europe,” Clarion CEO David Gilbert said.
Stoneshield’s portfolio includes strategic stakes in MiCampus, a major European purpose-built student housing operator; renewable energy and artificial intelligence infrastructure developer Solaria; energy infrastructure operator Exolum; Spanish homebuilder Neinor Homes; and Meliá Hotels International.
The firm will retain offices in Spain, Portugal, Ireland, the United Kingdom and Luxembourg. Pepa and Morenés will continue leading investment strategy, growth and daily operations while helping Clarion and Franklin Templeton develop products for institutional and wealth-management clients.
“The transaction gives us the benefits of a global platform while preserving our team, strategy and culture,” Pepa said.
Financial terms were not disclosed. The transaction is expected to close during the fourth quarter, subject to customary conditions.
Goldman Sachs International advised Stoneshield.