Franklin Templeton Investments Announces Acquisition of Alternative Credit Manager Benefit Street Partners

October 30, 2018

Benefit Street Partners is a leading alternative credit manager with approximately $26 billion in assets under management.

On October 25, Willkie client Franklin Templeton Investments announced it has agreed to acquire Benefit Street Partners L.L.C. (BSP), a leading alternative credit manager. The acquisition will bolster Franklin Templeton's alternative offerings and expand its fixed income capabilities with additional alternative credit strategies at a time when investors are allocating capital to less liquid and higher yielding credit opportunities.

Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. With offices in over 30 countries, the California-based company has more than 70 years of investment experience and over $717 billion in assets under management as of September 30, 2018.

Established in 2008, BSP is based in New York, with five additional offices across the US. BSP offers a broad spectrum of investment capabilities to investors, covering corporate performing and distressed private credit, structured credit and commercial real estate credit. As of September 30, 2018, Benefit Street Partners L.L.C had approximately $26 billion in assets under management.

The Willkie team was led by partner David Boston and included partners Jordan Messinger, Christopher Peters and James Silk; and associate Laura Acker.