Firm partners with iCapital® to Offer Alternative Investments to Canadian Qualified Investors
TORONTO, July 31, 2024 /CNW/ - Franklin Templeton Canada today introduced Benefit Street Partners' private credit investment strategy to Canadian qualified investors, accessible through iCapital's customized technology and servicing solutions.
The Benefit Street Partners-Alcentra platform is one of the largest alternative credit managers globally with more than US$74 billion* in assets under management and an over 15-year track record of investing in private credit markets. Benefit Street Partners utilizes a multi-strategy approach to target attractive opportunities in the global credit markets and a discerning approach to deal selection.
Benefit Street Partners is part of Franklin Templeton's US$256 billion* alternatives business, which also includes private real estate through Clarion Partners, hedge fund strategies via K2 Advisors and secondary private equity and co-investments through Lexington Partners.
"Private credit has long been an important investment for institutional investors due to its attractive yields and diversification benefits," said Dennis Tew, Head of Sales, Franklin Templeton Canada. "As we continue to bring our best alternative investment capabilities to the Canadian market, we are now offering Benefit Street Partners' private credit strategy to Canadian qualified investors through our strategic partnership with iCapital."
Benefit Street Partners offers a broad spectrum of investment capabilities across private credit, special situations, structured credit and commercial real estate credit. Its private credit expertise includes:
- Scaled and integrated platform, supported by a large team of credit professionals that have investment expertise across the credit spectrum
- Demonstrated credit discipline emphasizing downside risk management and a focus on underwriting each credit on a deal-by-deal basis
- Investment expertise across the credit spectrum that provides flexibility to invest across the capital structure in an effort to capture the best risk-adjusted returns
Richard Byrne, President, Benefit Street Partners, added: "Our multi-strategy approach combines the best private credit opportunities, giving investors access to high-conviction ideas spanning the credit spectrum. Drawing upon our extensive investment experience through diverse market conditions, we aim to deliver attractive risk-adjusted returns while providing consistent current income."
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. In Canada, the company's subsidiary is Franklin Templeton Investments Corp., which operates as Franklin Templeton Canada. 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 California-based company has over 75 years of investment experience and over US$1.6 trillion (over CDN$2.2 trillion) in assets under management as of June 30, 2024. For more information, please visit franklintempleton.ca and connect with Franklin Templeton on LinkedIn, X and Facebook
About Benefit Street Partners-Alcentra
Benefit Street Partners-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 March 31, 2024, Benefit Street Partners-Alcentra has $74 billion of assets under management, with over 460 employees operating across North America, Europe and Asia Pacific. Benefit Street Partners-Alcentra is a wholly owned subsidiary of Franklin Templeton. More information about the firm is available at benefitstreetpartners.com.
About iCapital
iCapital is a leading global fintech company driving access to alternative investments for the wealth management industry by providing intuitive end-to-end technology and service solutions, education tools and resources, robust diligence, portfolio analytics capabilities and creating access vehicles. Its solutions enable organizations to streamline and scale their operational infrastructure for alternative investments and to provide access to direct investments and feeder funds at lower minimums through simplified digital workflows. The firm is also registered in Canada as an investment fund manager, portfolio manager and exempt market dealer. Its mission is to make institutional-quality private investments more widely accessible to advisors and their clients, while enabling managers to reach new sources of capital.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities. Diversification does not assure a profit or protect against market loss. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. Past performance is not a guarantee of future results.
*As of March 31, 2024
Copyright © 2024. Franklin Templeton. All rights reserved.
SOURCE Franklin Templeton Investments Corp.
Media Contact: Sarah Kingdon, Corporate Communications, Franklin Templeton, 416.957.6191, [email protected]
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