Franklin Templeton's (NYSE:BEN) U.S. and European alternative credits businesses, Benefit Street Partners and Alcentra, have merged under one brand, Benefit Street Partners (BSP)

The firm plans to integrate BSP and Alcentra, two credit firms that Franklin Templeton acquired in 2019 and 2022, respectively, according to an announcement from the company. 

David Manlowe, CEO of Benefit Street Partners, said: "BSP and Alcentra are complementary pioneers in alternative credit with long track records of successfully supporting investors through multiple market cycles. So this alignment under a unified brand is a natural next step for our combined global platform, which has become increasingly integrated in recent years and already shares world-class research, distribution, as well as operational teams and infrastructure.”

Manlowe added that this integration will allow them to meet their clients’ needs by "providing exposure to new asset classes and geographies around the world."

BSP will target both inorganic and organic growth over the next five years and is considering acquisitions in attractive areas of the alternative credit landscape. This includes expansion into new markets such as Asia and the Middle East.

New research conducted by BSP noted that over the next 12 months, 47 percent of respondents intend to increase their exposure to infrastructure debt, followed by direct lending at 39 percent, asset-based lending at 35 percent, special situations and distressed debt at 30 percent, commercial real estate at 28 percent and CLOs at 16 percent.

Of the 135 global institutional investors surveyed in the study, 93 percent intend to either maintain (42 percent) or increase (51 percent) their exposure to alternative credit in 2026.

The motivation behind their increased interest in exposure is the potential for higher returns than traditional fixed income, as well as greater diversification, the release continued.

BSP is an alternative credit firm with $92 billion in assets under management, which includes the assets under Apera Asset Management, a company that the firm acquired in October 2025. The firm manages strategies including private debt, real estate debt, structured credit and liquid loans.

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