ClearBridge Investments

Scott Glasser serves as Chief Investment Officer, overseeing multiple independent portfolio management teams. Each team — large-cap growth, value, infrastructure, REITs, and others — operates with process autonomy under its own lead managers. Glasser's office monitors risk, capacity, and adherence to stated investment mandates. This structure means investment decisions are decentralized across teams rather than directed by a single central committee.

ClearBridge retained its brand, investment autonomy, and operational infrastructure after Franklin Templeton closed the Legg Mason acquisition in 2020. The firm continues to run its own portfolio management, compliance, and distribution functions, with investment teams unaltered. The acquisition changed parent-level ownership but left ClearBridge's multi-boutique structure intact. It operates as an autonomous investment affiliate within the broader Franklin Templeton group.

ClearBridge is a dedicated active fundamental equity manager. Teams build concentrated portfolios from bottom-up research — the large-cap growth flagship, as one example, holds roughly 30 to 45 names. The firm does not run index strategies, smart-beta products, or systematic quant funds. Its product set includes growth, value, income, infrastructure, REITs, and global/international equity mandates, all managed actively.

ClearBridge was formed in 2005 when Legg Mason consolidated its internal equity teams under a single brand, combining managers from predecessor firms including Citigroup Asset Management's equity group, which Legg Mason acquired in a 2005 swap transaction. Funds once branded under Legg Mason or Smith Barney were rebranded ClearBridge. The firm continues to manage many funds that originated in those predecessor firms.

ClearBridge is an active public-equity manager, not a private-markets firm. It does not run private equity co-investment programs alongside GPs. The infrastructure and REIT strategies invest in publicly traded securities, not direct project co-investments. All vehicles — separate accounts, mutual funds, and UCITS — invest in listed or publicly traded assets.

Principal investment offices are in New York, Baltimore, San Francisco, London, and Sydney. The New York office houses the CEO, CIO, and several investment teams. Baltimore hosts additional portfolio management and operations. International offices cover EMEA and Asia-Pacific markets but are investment hubs rather than purely distribution outposts.

The large-cap growth flagship typically holds between 30 and 45 names, with high active share relative to the benchmark. Other strategies vary — infrastructure and REITs hold specialist portfolios, while international and global equity teams also run concentrated books. The firm explicitly favors conviction-weighted portfolios over closet-indexing, which is a core part of its pitch to institutional allocators.