SAN MATEO, Calif. — Franklin Templeton’s global advisory unit launched a global private equity fund last week.

The Templeton Emerging Markets Fund is to invest in small and midsize companies facing temporary funding constraints.

Mark Mobius, president of the fund, said it will focus on listed and unlisted companies that have been overlooked by pure equity funds and face liquidity shortfalls.

The fund will take stakes of up to 50% and invest $5 million to $10 million in target companies with market capitalization of less than $150 million.

The fund is being marketed to institutional investors and individuals with net worth of $80 million to $200 million.

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