Benefit Street Partners Closes Second Special Situations Fund
Benefit Street Partners L.L.C announced the final close of BSP Special Situations Fund II with approximately $850 million in capital commitments. The fund focuses on providing bespoke financing solutions to borrowers leveraging its experience in stressed and distressed situations. BSP's special situations team has deployed over $3 billion since inception, aiming for attractive risk-adjusted returns. Fund II has already deployed 40% of its capital with an early strong net IRR of 25%.
BSP closed BSP Special Situations Fund II oversubscribed with $850 million in capital commitments
The fund provides bespoke financing solutions to borrowers in stressed and distressed situations
Special situations team has deployed over $3 billion since inception
Early investments of Fund II are achieving a strong net IRR of 25%
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BSP’s special situations platform aims to provide solutions to borrowers unable to access traditional markets, leveraging its vast experience in stressed and distressed situations. Since inception of the platform, the special situations team has deployed over
“Given the dynamic credit market environment, the need for bespoke financing solutions is increasingly important,” said David Manlowe, Chief Executive Officer of BSP. “We appreciate the trust our investors have placed in our team to generate attractive risk-adjusted returns.”
“We see a unique opportunity to provide non-traditional capital to over-leveraged businesses,” said Ray Costa, Head of Special Situations at BSP. “Fund II has already deployed
About Benefit Street Partners
BSP-Alcentra is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt. As of December 31, 2023, BSP-Alcentra has
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the
Securities offered through Franklin Distributors, LLC.
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Franklin Templeton Corporate Communications:
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Source: Benefit Street Partners
FAQ
<p>What is the name of the fund that Benefit Street Partners L.L.C closed?</p>
Benefit Street Partners L.L.C closed BSP Special Situations Fund II
<p>How much capital commitments were there for Fund II?</p>
Fund II had approximately $850 million in capital commitments
<p>What type of solutions does BSP's special situations platform provide?</p>
BSP's special situations platform provides bespoke financing solutions to borrowers in stressed and distressed situations
<p>What is the net IRR achieved by the early investments of Fund II?</p>
The early investments of Fund II are achieving a strong net IRR of 25%
