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Franklin BSP Capital Corp
Franklin BSP Capital Corp is an SEC-registered investment adviser in NEW YORK, NY, registered since 2020. The firm manages approximately $4.2 billion in...
Franklin BSP Capital Corp
Franklin BSP Capital Corp is an SEC-registered investment adviser in NEW YORK, NY, registered since 2020. The firm manages approximately $4.2 billion in regulatory assets. It has 2 employees and 2 investment advisers.
General information
Firm type
Business Development Company
Year founded
2018
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Richard J. Byrne
Chairman
Michael J. Hagan
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Franklin BSP Capital Corp?
Richard J. Byrne serves as Chairman guiding overall strategy. Michael J. Hagan is CEO and oversees day-to-day operations. As an externally managed BDC, the investment portfolio is managed by Franklin Resources' private credit team through Benefit Street Partners.
Is Franklin BSP Capital Corp structured as a single family office?
No. Franklin BSP Capital Corp is a publicly traded business development company (BDC) registered under the Investment Company Act of 1940. It is externally managed by Franklin Resources and offers shares to retail and institutional investors.
What investment stages does the BDC typically target?
The firm focuses on middle-market companies with EBITDA between $10 million and $100 million. It originates loans across the capital structure — senior secured, second-lien, mezzanine — and makes minority equity co-investments alongside debt placements (per SEC filings and investor presentations).
Which sectors does Franklin BSP Capital Corp explicitly favor?
The firm invests across diversified sectors including healthcare services, technology equipment leasing, specialty finance, and infrastructure. Its portfolio includes exposures to healthcare (such as Healogics), industrial equipment (InfraTechnology), and credit-oriented managers like CBAM Partners.
How does Franklin BSP Capital Corp generate returns for shareholders?
Returns come from the spread between portfolio yield (typically floating-rate loans at SOFR plus 400-600 bps) and the firm's cost of borrowing. The BDC pays regular quarterly dividends from net investment income. In 2023, it declared dividends of $0.355 per share each quarter (per SEC filings).
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