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Franklin Templeton

  •   2 June 2022
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Franklin Templeton to acquire Alcentra from BNY Mellon

  • Transaction will double the size of Benefit Street Partners’ assets under management to $77 billion
  • Increase Franklin Templeton’s alternative assets under management to $257 billion
  • BNY Mellon and Alcentra will continue distribution and asset servicing relationship

Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton, and The Bank of New York Mellon Corporation [NYSE:BK] (“BNY Mellon”) today announced that Franklin Templeton has entered into a definitive agreement to acquire BNY Alcentra Group Holdings, Inc. (together with its subsidiaries, “Alcentra”) from BNY Mellon.

One of the largest European credit and private debt managers, Alcentra has $38 billion in assets under management (“AUM”) with global expertise in senior secured loans, high yield bonds, private credit, structured credit, special situations and multi-strategy credit strategies.

Through this acquisition, Franklin Templeton’s U.S. alternative credit specialist investment manager, Benefit Street Partners (“BSP”), will expand its alternative credit capabilities and presence in Europe, doubling its assets under management to $77 billion globally. The transaction will also continue to strengthen the breadth and scale of Franklin Templeton’s alternative asset strategies and brings firmwide alternative assets under management to $257 billion after the transaction closes.

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