#United States #San Mateo #BSP #Alternative Credit #Franklin Templeton

Franklin Templeton's Strategic Brand Integration

On January 27, 2026, Franklin Templeton announced the completion of the integration of its alternative credit brands, Benefit Street Partners (BSP) and Alcentra, into a single unified BSP brand. This move marks a significant milestone in their ongoing efforts to create a comprehensive global platform focused on alternative credit, tailored to meet the evolving needs of their clients.

Both BSP and Alcentra have been under the umbrella of Franklin Templeton since they were acquired in 2019 and 2022, respectively. The brand integration reflects the increasing demand for a specialized and coherent global credit platform among investors. Following this integration, BSP will undergo a rebranding process that will include a new logo and website URL. Funds previously associated with Alcentra will gradually be rebranded as BSP starting this week.

Recent studies have highlighted the growing importance of alternative credit within institutional portfolios. Approximately 93% of institutional investors, representing a total asset base of £8 trillion, are either looking to maintain (42%) or expand (51%) their exposure to alternative credit by 2026. Factors driving this trend include the desire for enhanced diversification (85%) and expectations for total returns that exceed traditional bond investments (81%). Notably, 81% of these investors view a focused expertise in specific asset classes as crucial to achieving strong performance.

In response to such robust demand, BSP is setting ambitious growth strategies over the next five years, combining organic growth with potential acquisitions and partnerships. The firm is actively exploring opportunities in new markets, particularly in Asia and the Middle East, and looking to expand into adjacent areas within the alternative credit space.

David Manlow, the CEO of BSP, expressed his views on this integration:
"The merger of BSP and Alcentra symbolizes the culmination of our journey as pioneers in the alternative credit sector, providing valuable support to investors through various market cycles. This integration is a natural progression towards bolstering our global platform. We aim to accelerate the platform unification process, having already combined our top-tier research, distribution, and operational teams."

He further noted the optimal structure now in place to address clients' evolving alternative credit needs:
"With this brand integration, we can leverage our global platform and functionalities dedicated to institutional investors, meeting the increasingly sophisticated appetite for new asset classes and market exposures."

Franklin Templeton remains committed to nurturing differentiated operational capabilities within specific local markets and areas of focus as part of their broader integration strategy. A notable example of this commitment is the recent acquisition of Apera Asset Management, which specializes in direct lending for lower-middle-market businesses across Europe, expected to enhance their overall investment strategy significantly.

As a result of the integration, BSP's total assets under management will encompass $78 billion in corporate credit strategies and $14 billion in commercial real estate loan strategies, projecting to exceed $100 billion by the end of 2026.

Catherine Bevan, BSP's co-head for Europe and structured credit sector leader, commented on the clear message from clients:
"Investors want to access the best investment opportunities across the rapidly expanding alternative credit space, managed by a singular reliable global partner. Our extensive experience, built trust, and on-the-ground expertise are crucial in providing a multifaceted yet unified platform to achieve these investment goals."

About Benefit Street Partners

Benefit Street Partners (BSP) is a pioneer in alternative credit management, with assets under management totaling approximately $92 billion (including Apera). We focus on delivering attractive risk-adjusted returns through deep expertise and longstanding relationships. As a wholly-owned subsidiary of Franklin Templeton, BSP specializes in credit-focused investments, utilizing a disciplined, solution-oriented approach to generate opportunities regardless of market cycles.

About Franklin Templeton Group

Headquartered in San Mateo, California, Franklin Templeton Group comprises Franklin Resources, Inc. (NYSE: BEN) and subsidiaries, with over 75 years of asset management experience spanning across more than 35 countries. The group offers customized solutions addressing a broad spectrum of client needs through a unified brand with over 1,500 investment professionals worldwide.

Important Notes

This communication may contain forward-looking statements regarding future events or performances, reflecting our expectations based on certain assumptions. Such predictions encompass risks and uncertainties, and actual results may differ significantly. Please be assured that no obligation exists to update any forward-looking statements unless required by law.
For a complete understanding of the investment risks involved, please review the relevant documentation before entering into any investment agreements.

For more information about BSP and its offerings, visit BSP Credit.