Clarion Partners: AUM & Ownership

Clients

Clarion Partners serves 36 clients, 27 of them pooled investment vehicles. The average client has about $2.05 billion with the firm.

Regulatory assets by client type

Pooled investment vehicles27 clients84%
State or municipal government entities8 clients11%
OtherBanking or thrift institutions, Investment companies, Pension and profit-sharing plans, Charitable organizations, Insurance companies, Sovereign wealth funds and foreign official institutions5%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Banking or thrift institutions	Not reported	$2,735	0.0%	—
Investment companies	1	$1,050,879,286	1.4%	$1.05B
Pooled investment vehicles	27	$62,077,709,489	84.3%	$2.30B
Pension and profit-sharing plans	Not reported	$1,369,055,703	1.9%	—
Charitable organizations	Not reported	$44,797,857	0.1%	—
State or municipal government entities	8	$8,152,590,721	11.1%	$1.02B
Insurance companies	Not reported	$761,212,028	1.0%	—
Sovereign wealth funds and foreign official institutions	Not reported	$221,268,695	0.3%	—
Total	36	$73,677,516,514	100%	$2.05B

Banking or thrift institutions

Clients: Not reported
Regulatory AUM: $2,735
Share: 0.0%
Avg. per client: —

Investment companies

Clients: 1
Regulatory AUM: $1,050,879,286
Share: 1.4%
Avg. per client: $1.05B

Pooled investment vehicles

Clients: 27
Regulatory AUM: $62,077,709,489
Share: 84.3%
Avg. per client: $2.30B

Pension and profit-sharing plans

Clients: Not reported
Regulatory AUM: $1,369,055,703
Share: 1.9%
Avg. per client: —

Charitable organizations

Clients: Not reported
Regulatory AUM: $44,797,857
Share: 0.1%
Avg. per client: —

State or municipal government entities

Clients: 8
Regulatory AUM: $8,152,590,721
Share: 11.1%
Avg. per client: $1.02B

Insurance companies

Clients: Not reported
Regulatory AUM: $761,212,028
Share: 1.0%
Avg. per client: —

Sovereign wealth funds and foreign official institutions

Clients: Not reported
Regulatory AUM: $221,268,695
Share: 0.3%
Avg. per client: —

Total

Clients: 36
Regulatory AUM: $73,677,516,514
Share: 100%
Avg. per client: $2.05B

What it does

Clarion Partners provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets, fixed fees, performance-based fees and other arrangements.

Clarion Partners advises 22 private funds.

91.5% of assets ($67.44B across 36 accounts) are managed with discretion; $6.23B across 9 accounts are not. 20% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Other100%
- Real estate-related interests100%

Custodians

Clarion Partners has custody of $441.7M for 11 clients.

Managed account assets by custodian

All other custodians$73.68B100%

Ownership and leadership

Clarion Partners Holdings LLC owns 75% or more of Clarion Partners, and David Gilbert is its CEO.

Who owns the firm

Clarion Partners, LLC· the adviser

Clarion Partners Holdings LLC
Control person · since June 2011
Owns 75% or more of Clarion Partners, LLC
- Legg Mason, Inc.
  Control person · since April 2016
  Owns 75% or more of Clarion Partners Holdings LLC
  - Franklin Resources, Inc.
    Control person · since July 2020
    Owns 75% or more of Legg Mason, Inc.

Leadership

David Gilbert
Chief Executive Officer
Joshua Pristaw
President
Heather Hopkins
Chief Financial Officer
Susan Boccardi
General Counsel & Chief Compliance Officer
Kimberly Adams
Managing Director
Susan Ansel
Executive Board Member
Ralph Belford
Chief Investment Officer
John Conklin
Executive Board Member
Jonathan Gelb
Executive Board Member
Indraneel Karlekar
Managing Director
Jeffrey Macdonnell
Chief Marketing Officer

Staff

321 employees
180 in advisory functions
19 broker-dealer reps
6 soliciting firms

Fees

Clarion Partners is paid through a percentage of assets under management, fixed fees (other than subscription fees), performance-based fees and other.

Clarion Partners’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Clarion Partners has 6 offices, with 7 listed addresses across 7 states.

Listed office addresses by state

New York · 1 listed address

One Madison Avenue, Floor 14, New YorkHQ

Registration details

Legal name: Clarion Partners, LLC
Headquarters: One Madison Avenue, Floor 14, New York, NY 10010
Phone: 212-883-2500
Website: www.clarionpartners.com
SEC file: 801-16611
Structure: New York LLC
Fiscal year end: September

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Clarion Partners have?

Clarion Partners has 36 clients and manages $73.7 billion for them, as of February 2026. They include 27 pooled investment vehicles, 8 state or municipal government entities and 1 investment companies.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 February 2026

What services does Clarion Partners offer?

Clarion Partners provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Clarion Partners have?

Clarion Partners has 0 investment adviser representatives registered with state securities authorities, out of 321 employees, and 180 perform investment advisory functions. 19 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Clarion Partners invest in?

At the end of its last fiscal year, Clarion Partners’ separately managed accounts held 100% real estate-related interests. It advises 22 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Clarion Partners?

Clarion Partners is owned through a chain of holding companies by Franklin Resources, Inc. Its direct owner is Clarion Partners Holdings LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 27 February 2026

How does Clarion Partners get paid?

Clarion Partners is paid through a percentage of assets under management, fixed fees, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file