Franklin Templeton Investments To Acquire Benefit Street Partners - Quick Facts

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(RTTNews.com) - While reporting its fourth-quarter financial results on Thursday, Franklin Resources, Inc. ( BEN ), a global investment management organization operating as Franklin Templeton Investments, said it has agreed to acquire Benefit Street Partners L.L.C. or BSP, an alternative credit manager with about $26 billion in assets under management as of September 30, 2018.

Franklin Templeton noted that the acquisition will bolster its alternative offerings and expand its fixed income capabilities to include an array of alternative credit strategies, at a time when investors are increasingly allocating capital to less liquid and higher yielding credit opportunities.

Established in 2008, BSP is based in New York, with five additional offices across the U.S. BSP offers a broad spectrum of investment capabilities to its investors, covering corporate performing and distressed private credit, structured credit and commercial real estate credit.

The transaction is anticipated to close in Franklin Templeton's second quarter of fiscal 2019.

Following the acquisition, Franklin Templeton's alternative offerings will represent more than $40 billion in assets under management.

Read the original article on RTTNews (http://www.rttnews.com/2947623/franklin-templeton-investments-to-acquire-benefit-street-partners-quick-facts.aspx)

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This article appears in: World Markets , Stocks , 401k , Banking and Loans , Retirement
Referenced Symbols: BEN

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