Benefit Street Partners

BSP is a wholly owned subsidiary of Franklin Templeton but retains full investment and day-to-day operational independence. It operates as its own investment adviser, makes independent portfolio decisions, and manages its own teams. The parent relationship provides institutional scale and global distribution without dictating investment strategy.

BSP runs eight dedicated strategies: direct lending, structured credit (including CLOs), liquid credit, special situations, infrastructure debt, real estate debt, multi-asset credit, and public/registered funds. The firm focuses exclusively on credit and does not operate equity, venture, or hedge fund strategies outside of credit.

BSP originates direct loans to middle-market companies through its direct lending strategy. It also invests via structured credit vehicles including CLOs, and manages commingled funds and separately managed accounts across its other strategies. The firm provides both direct and intermediated credit exposure.

BSP does not publicly detail co-investment frameworks on its website. Its direct lending and special situations strategies likely involve club deals and syndicated structures common in private credit, but specific co-investment policies with external GPs are not a disclosed feature of the firm's public materials.

BSP invests globally, with offices in the US and UK. Its direct lending and real estate strategies are North America-focused based on team locations in New York, Boston, San Francisco, Dallas, and Ellicott City. The infrastructure debt strategy typically covers OECD markets, and the London office supports European deal sourcing.