BALTIMORE, April 13, 2016 /PRNewswire/ -- Legg Mason, (NYSE: LM) announced today that it has completed the acquisition of an 82% equity interest in Clarion Partners, a leading diversified real estate investment firm based in New York. As of March 31, 2016 the AUM for Clarion was approximately $40 billion.
About Legg Mason
Legg Mason is a global asset management firm with $670 billion in assets under management as of March 31, 2016. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
About Clarion Partners
Clarion Partners, an SEC registered investment adviser and FINRA member firm, has been a leading U.S. real estate investment manager for 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With approximately $40 billion in total assets under management as of March 31, 2016, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
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SOURCE Legg Mason, Inc.