Franklin Templeton has completed its acquisition of Apera Asset Management, a pan-European private credit firm with over €5 billion in assets under management as of September 30, 2025. With this transaction, Franklin Templeton's global alternative credit assets under management increase to more than $90 billion, while its total alternative asset strategies rise to approximately $270 billion. The addition of Apera expands Franklin Templeton's presence in the European private credit market, complementing its existing alternative credit offerings alongside Benefit Street Partners in the U.S. and Alcentra in Europe. Apera, founded in 2016, specializes in providing senior secured private capital solutions to private equity-backed companies in Western Europe, focusing on the lower middle market.