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Franklin Templeton closes latest emerging markets fund on more than $220m

11 Mar 2014

dollar 20_sqFranklin Templeton‘s emerging market unit Templeton Emerging Markets Group has closed its latest fund with commitments of more than $220m.

Templeton Strategic Emerging Marketing Fund (TSEMF) IV was launched in 2012 and has so far deployed $59m.

Its most recent deal was a TRY67m ($33.5m) investment in Turkish food retailer Sok Marketler Ticaret.

Templeton said the fund’s prospective deals are well diversified across countries, with China, India and Russia being the three largest. The fund has been seeing “good prospective deal flow” in Vietnam, Thailand and Singapore, it added.

Templeton Emerging Markets Group executive chairman Mark Mobius said, “Now that TSEMF IV is fully funded, we look forward to deploying more capital in what we believe is a highly attractive market for private equity, and continuing the Fund’s unique role in supporting growth in small- to mid-sized companies across emerging markets.

“We continue to follow our time-tested investment philosophy to identify and structure investments in promising companies on attractive terms in order to seek to maximize returns for our shareholders.”

Last year Mobius told Bloomberg that the firm was looking at the private equity side of things in Africa.

He said there may be very interesting prospects in parts of Africa that had so far not attracted many investors.

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