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Benefit Street Partners (BSP), Franklin Templeton's alternative credit manager, has bolstered its asset-backed finance platform by incorporating a 14-person investment team from Encina Lender Finance. This acquisition, detailed in a joint statement, is set to augment BSP's capacity in the management and origination of asset-backed finance investments.
The newly integrated team will continue to operate under BSP's established strategy. Simultaneous to the team addition, a new fund, co-invested by Franklin Templeton and BSP-affiliated funds, has acquired a seed portfolio amounting to around $480 million in commitments, which have been secured by Encina. This new roster of professionals brings expertise in providing senior secured, unitranche, and first-out financing to consumer and commercial asset originators across the United States and Canada.
These investments are secured by diverse asset pools, encompassing consumer loans, credit card receivables, and small business loans. The transaction effectively broadens BSP's middle-market financing capabilities, with the newly expanded asset-backed finance platform now encompassing corporate asset-backed lending, equipment leasing, aircraft leasing, consumer finance, and lender finance.
Post-transaction, the combined platform now has access to approximately 100 investment professionals, a track record stretching back to 2013, and has already completed more than $10 billion in investments since its inception. BSP's chief executive, David Manlowe, expressed optimism about the addition, stating it will enhance the firm's origination capabilities and expand its range of financing solutions as the demand for asset-backed finance from institutional investors continues to grow.
In a similar vein, Franklin Templeton's chief executive, Jenny Johnson, emphasized the strategic deployment of the group's balance sheet to bolster the expansion of its private markets business. Franklin Templeton, under the stewardship of Johnson, manages an impressive $1.8 trillion in assets as of 30 September 2026, including over $300 billion in alternative investments. On its side, BSP manages approximately $97 billion.
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- Benefit Street Partners adds 14-person Encina team in asset-backed finance expansion privateequitywire.co.uk