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Franklin Templeton to acquire Alcentra from BNY Mellon

Franklin Resources, a global investment management organisation operating as Franklin Templeton, is to acquire BNY Alcentra Group Holdings (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 US 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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