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ClearBridge Investments

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ClearBridge Investments, LLC
FormerlyCitigroup Asset Management
Company typeSubsidiary
IndustryInvestment Management
Founded1962; 62 years ago (1962)
HeadquartersThe New York Times Building, New York City, US
Key people
Terrence Murphy (CEO)
AUMUS$151.3 billion (December 31, 2022)
Number of employees
218 (2022)
ParentFranklin Templeton Investments
Websiteclearbridge.com
Footnotes / references
[1]

ClearBridge Investments (ClearBridge) is an equities focused asset management firm headquartered in New York City. It was previously the asset management unit of Citigroup until 2005 when it was rebranded as ClearBridge Investments. Currently it is a subsidiary of Franklin Templeton Investments.

History

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ClearBridge traces its origins to several individual asset management firms with the earliest being established in 1962.[2][3][4][5] These firms include the asset management units of Smith Barney, Loeb, Rhoades & Co, Shearson and Salomon Brothers.[2][4][5] After a series of mergers, all of these firms became part of Citigroup which was formed in 1998.[2][4][5][6] The asset management units under Citigroup were merged to form its asset management unit, Citigroup Asset Management.[2][4][5]

In 2005, Citigroup and Legg Mason performed an asset swap worth $3.7 billion.[2][4][5][7] Citigroup would give Citigroup Asset Management to Legg Mason in exchange for Legg Mason's broker-dealer business.[2][4][5][7] After the transaction was completed, Legg Mason rebranded Citigroup Asset Management to ClearBridge Investments.[2][4][5][8]

In 2007, the Dolan Family attempted to take Cablevision private for $10.6 billion but ClearBridge, the largest shareholder, opposed it and eventually the bid was rejected by shareholders.[9][10][11]

In 2013, the Legg Mason Capital Management division that was previously headed by Bill Miller was integrated into ClearBridge.[5][12]

In 2020, ClearBridge became a subsidiary of Franklin Templeton Investments after its parent company, Legg Mason was acquired by Franklin Templeton Investments.[13]

References

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  1. ^ "Form ADV" (PDF). SEC. Archived (PDF) from the original on January 7, 2023. Retrieved January 7, 2023.
  2. ^ a b c d e f g "firm-factcard.pdf". January 7, 2023. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  3. ^ DiStefano, Joseph N. (March 20, 2017). "UPDATE: Vanguard Explorer trails manager it fired". inquirer. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  4. ^ a b c d e f g "ClearBridge International All Cap Opportunity Fund". www.sec.gov. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  5. ^ a b c d e f g h "Legg Mason combining equity biz with ClearBridge | Equities". AsianInvestor. January 16, 2013. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  6. ^ Martin, Mitchell; Tribune, International Herald (April 7, 1998). "Citicorp and Travelers Plan to Merge in Record $70 Billion Deal : A New No. 1:Financial Giants Unite". The New York Times. ISSN 0362-4331. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  7. ^ a b Creswell, Julie (June 25, 2005). "Citigroup and Legg Mason Release Details of Asset Swap". The New York Times. ISSN 0362-4331. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  8. ^ Sams, Rachel (May 1, 2006). "Legg rebrands former Citi unit as ClearBridge Advisors". www.bizjournals.com. Archived from the original on March 16, 2024. Retrieved January 7, 2023.
  9. ^ Sorkin, Andrew Ross (October 17, 2007). "Cablevision Buyout Deal Is Imperiled". The New York Times. ISSN 0362-4331. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  10. ^ Lauricella, Peter Grant and Tom. "Cablevision Deal Meets More Opposition". WSJ. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  11. ^ Sorkin, Andrew Ross (October 25, 2007). "Dolans' Bid to Take Cablevision Private Is Rejected by Shareholders". The New York Times. ISSN 0362-4331. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
  12. ^ "Legg Mason Folds Miller Value Unit Into ClearBridge". Bloomberg.com. January 16, 2013. Archived from the original on November 27, 2017. Retrieved January 7, 2023.
  13. ^ "ClearBridge relies on helping employees grow". Pensions & Investments. December 9, 2021. Archived from the original on January 7, 2023. Retrieved January 7, 2023.
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