On September 4, Franklin Templeton Investments, a leader in the international asset management industry, with over $621 billion in assets, announced the acquisition of 25% of Dubai-based Algebra Capital. Executive talked to Algebra’s managing director, Mehiedinne “Dino” Kronfol, to discuss the recent acquisition as well as his outlook on the regional economic context. “It was Algebra Capital’s intention, since its founding in November 2006, to establish a strategic relationship with an organization that could provide both institutional credibility and a strong distribution capability. Franklin Templeton meets both criteria exceptionally well,” said Kronfol. “We began managing assets two months ago via discretionary mandates and sub-advisory agreements and will be launching our first fund, the Alpha long-only MENA Fund very soon,” he added. Joining forces According to Kronfol, the regional MENA asset management industry will triple in size over the next five years, growing from around $75 billion to over $200 billion.
