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05

Clarion, Legg Mason in Talks: Reports

By Tony Seruga

New event! Meet the people leading the sector at RealShare Industrial West. The Westin Long Beach, January 19-20. Room block available.

Legg Mason had more than $690 billion in AUM as of Nov. 30.

Photo courtesy of Beatty Development

BALTIMORE—Global asset manager Legg Mason Inc. is in exclusive discussions to acquire majority ownership in Clarion Partners from Lightyear Capital, Bloomberg Business reported Monday evening. Spokesmen for Lightyear and Clarion declined to comment Tuesday; a Legg Mason spokeswoman told GlobeSt.com the firm could not comment on market rumors.

Citing people said to be familiar with the matter, Bloomberg reported that a deal would entail Legg Mason acquiring an 80% stake in Clarion, of which Lightyear Capital has been majority owner since 2011. Clarion CEO chairman and CEO Stephan Furnary and Furnary’s management team would continue to hold a 20% stake…

Clarion, Legg Mason in Talks: Reports

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