Franklin Templeton completes acquisition of BNY Mellon's Alcentra

The acquisition, which was announced earlier this year, sees the purchase of one of the largest European credit and private debt managers with $35bn in assets under management. This move now nearly doubles the AUM of Benefit Street Partners, Franklin Templeton's US alternative credit specialist investment manager, to $75bn, while growing the entire alternative AUM of Franklin Templeton to $260bn. Alcentra was founded in 2002 and has been a subsidiary of BNY Mellon since 2006 as one of its eight investment firms, currently working with more than 500 institutional investors. The firm...