Legg Mason $585 million acquisition of Clarion Partners

Overview:

• Legg Mason, an asset management firm, has acquired an 83% stake in Clarion Partners, a real estate investment manager, for $585 million from Lightyear Capital. 
• Clarion Partners held onto a 17% stake.
• Morgan Stanley acted as financial adviser to Clarion Partners.

Rani Mehta - Journalist