Benefit Street Partners

Benefit Street Partners

Benefit Street Partners (BSP) operates as the credit-focused affiliate of Franklin Templeton, one of the world's largest asset managers. The firm is structured to retain full investment and day-to-day operational independence while drawing on the institutional resources of its parent. BSP has built its platform exclusively around alternative credit, spanning private and public markets from offices in New York, Boston, London, San Francisco, Dallas, and Ellicott City. BSP deploys capital across eight dedicated strategies: direct lending, structured credit, liquid credit, special situations, infrastructure debt, real estate debt, CLOs, and multi-asset credit. The firm's direct lending arm originates senior-secured loans to middle-market companies, while its structured credit group actively manages CLOs and other securitized vehicles. BSP's real estate platform targets debt investments across property types, and the infrastructure debt strategy focuses on core and core-plus assets in energy, transportation, and digital infrastructure. The firm also runs public and registered funds that provide individual investors access to its credit strategies. As of March 2026, BSP managed approximately $93 billion in assets (per the firm, March 2026). The firm's integration under Franklin Templeton's alternative credit umbrella — which consolidated multiple credit affiliates under the BSP brand — reflects a broader institutional push to scale private credit capabilities. Investment personnel include Franklin Templeton team members who dedicate substantially all their time to BSP products. BSP's structural differentiator is its position as a subsidiary with genuine operational independence: it makes its own investment decisions, manages its own teams, and runs its own origination and underwriting processes. That independence, combined with access to Franklin Templeton's global distribution and operational infrastructure, gives BSP a sourcing footprint and balance-sheet credibility that stand-alone credit managers rarely match.