Templeton EM PE fund closes below target

Franklin Templeton has held a final close on its fourth emerging markets private equity fund at $220 million, missing its target and reflecting reduced EM PE fundraising levels. Templeton Strategic Emerging Markets Fund IV launched in 2012 with a target of $300 million. It was designed with a sub-tranche for Asia, of which about one-third would be earmarked for China, with the rest targeting Southeast Asia and India. The fund can also invest in Central and Eastern Europe. It is …