Benefit Street Partners

Founded in 2008 and headquartered in New York, Benefit Street Partners (BSP) is a wholly owned subsidiary of Franklin Templeton. In January 2026, Franklin Templeton announced that BSP and Alcentra had aligned under a refreshed BSP brand, expanding the platform’s global alternative-credit scope.

BSP focuses exclusively on credit and manages strategies across direct lending, structured credit, CLOs, liquid credit, special situations, infrastructure debt and real estate debt. It manages capital for institutional and high-net-worth investors through funds and separately managed accounts.

The firm is especially strong in cross-market credit investing: its platform combines private and public credit capabilities, with particular scale in direct lending, CLOs, commercial real estate debt and structured credit. Its stated approach emphasizes disciplined credit selection, active management and risk-adjusted returns.