Benefit Street Partners (BSP), a credit-focused alternative asset manager with approximately $75bn in AUM and a subsidiary of Franklin Templeton Investments, has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7bn of capital.
According to a press release, the fund seeks to generate attractive risk-adjusted returns by investing primarily in privately originated, floating rate, senior secured loans, and will target private equity sponsored and non-sponsored middle market companies in North America.
In a statement, Blair Faulstich, Head of US Private Debt at BSP, said: “The private credit asset class has been established as an integral part of the leveraged finance ecosystem and as an all-weather allocation for institutional investors’ portfolios.
“Looking forward, we expect continued broad interest in the asset class as investors seek exposure to investment opportunities that offer highly attractive risk-adjusted returns. Many of the dynamics we observe in today’s market should drive robust deal flow over the near to medium term.”
BSP’s US private debt platform has deployed approximately $38bn since its inception in 2008.
