Franklin Templeton's Alternative Credit Businesses Consolidates Into BSP - Franklin Resources (NYSE:BEN)

Company Overview - Franklin Templeton's U.S. and European alternative credits businesses, Benefit Street Partners and Alcentra, have merged under the brand Benefit Street Partners (BSP) [1] - The integration aims to unify the two credit firms acquired in 2019 and 2022, enhancing their global platform [1] Strategic Goals - BSP plans to pursue both inorganic and organic growth over the next five years, with a focus on acquisitions in attractive areas of the alternative credit landscape [2] - The firm is considering expansion into new markets such as Asia and the Middle East [2] Market Insights - A recent study by BSP revealed that 47% of respondents plan to increase their exposure to infrastructure debt over the next 12 months, followed by 39% for direct lending and 35% for asset-based lending [3] - Among 135 global institutional investors surveyed, 93% intend to either maintain (42%) or increase (51%) their exposure to alternative credit by 2026, driven by the potential for higher returns and greater diversification [4] Asset Management - BSP currently manages $92 billion in assets, including those from Apera Asset Management, which was acquired in October 2025 [5] - The firm oversees strategies such as private debt, real estate debt, structured credit, and liquid loans [5]