BALTIMORE, Oct. 21, 2015 /PRNewswire/ — Legg Mason, (NYSE: LM) announced today that it has completed the acquisition of a majority equity interest in RARE Infrastructure Limited, a global listed infrastructure manager headquartered in Sydney, Australia. As of October 20, 2015, estimated AUM for RARE Infrastructure was $6.8 billion.

About Legg Mason

Legg Mason is a global asset management firm with $672 billion in assets under management as of September 30, 2015. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

About RARE Infrastructure Limited

RARE Infrastructure Limited was established in 2006 as an investment management company focused exclusively on global listed infrastructure. The company’s investment and risk management approach is reflected in its name – Risk Adjusted Returns to Equity (RARE), with the risk / return relationship being a prime focus. RARE’s philosophy is to provide investors with a high quality portfolio of listed infrastructure securities managed by an experienced team of specialists.

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SOURCE Legg Mason