Fiduciary Trust Company International and Franklin Resources, Inc’s Acquisition of Athena Capital Advisors, LLC

Goodwin Procter LLP served as legal counsel to Fiduciary Trust Company International and Franklin Templeton. Raymond James | Silver Lane served as Athena Capital Advisors’ financial advisor on the transaction, and Holland & Knight served as its legal advisor.

Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Resources, Inc. (NYSE:BEN), announced that it has entered into an agreement to acquire Athena Capital Advisors, LLC in a merger transaction. Athena Capital, a nationally registered investment advisor (RIA), has approximately $6 billion in assets under management. The acquisition will expand Fiduciary Trust Company International’s offerings, further diversifying the firm’s investment solutions for meeting the evolving needs of high-net-worth and ultra-high-net-worth clients.

The transaction is subject to customary closing conditions and is anticipated to close in Franklin Templeton’s second quarter of fiscal 2020. Following the acquisition, Fiduciary Trust Company International’s assets under management will be approximately $25 billion. Terms of the deal were not disclosed.

The Goodwin team was led by Amber Dolman (Picture), Christopher Isaacs and Jessica Craig and included Bradford Smith and Christina Bitter, Matthew Dunay and David Patton, William Stern and Andy Barton and Elizabeth Doyon.

Involved fees earner: Andy Barton – Goodwin Procter; Christina Bitter – Goodwin Procter; Jessica Craig – Goodwin Procter; Amber Dolman – Goodwin Procter; Elizabeth Doyon – Goodwin Procter; Matthew Dunay – Goodwin Procter; Christopher Isaacs – Goodwin Procter; David Patton – Goodwin Procter; Bradford Smith – Goodwin Procter; William Stern – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Fiduciary Trust Company International; Franklin Templeton Investments;

Author: Ambrogio Visconti