Benefit Street Partners: AUM & Ownership

Clients

Benefit Street Partners serves 74 clients, 70 of them pooled investment vehicles. The average client has about $383 million with the firm.

Regulatory assets by client type

Investment companies4 clients3%
Pooled investment vehicles70 clients97%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Investment companies	4	$977,301,307	3.5%	$244.3M
Pooled investment vehicles	70	$27,338,499,134	96.5%	$390.5M
Total	74	$28,315,800,441	100%	$382.6M

Investment companies

Clients: 4
Regulatory AUM: $977,301,307
Share: 3.5%
Avg. per client: $244.3M

Pooled investment vehicles

Clients: 70
Regulatory AUM: $27,338,499,134
Share: 96.5%
Avg. per client: $390.5M

Total

Clients: 74
Regulatory AUM: $28,315,800,441
Share: 100%
Avg. per client: $382.6M

What it does

Benefit Street Partners provides portfolio management for investment companies and portfolio management for pooled vehicles. It is paid through a percentage of assets and performance-based fees.

Benefit Street Partners advises 71 private funds.

100.0% of assets ($28.32B across 74 accounts) are managed with discretion. 31% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

Custodians

Benefit Street Partners has custody of $12.61B for 50 clients.

Managed account assets by custodian

All other custodians$28.32B100%

Ownership and leadership

Franklin Resources, Inc. owns 75% or more of Benefit Street Partners, and David Manlowe is its CEO.

Who owns the firm

Benefit Street Partners L.L.C.· the adviser

Franklin Resources, Inc.
Control person · since February 2019
Owns 75% or more of Benefit Street Partners L.L.C.

Leadership

David Manlowe
Chief Executive Officer
Richard Byrne
President
Bryan Martoken
Chief Financial Officer and Co-Chief Operating Officer
Allison Davi
Co-Chief Operating Officer
Enrico Gallo
Chief Compliance Officer
Shirley Hambelton
Managing Director and General Counsel

Staff

241 employees
110 in advisory functions
5 broker-dealer reps

Reported holdings

Benefit Street Partners’ reported 13F holdings total $69.6M across 21 positions, and the ten largest make up 85.1% of it.

$69.6M
Reported 13F value: 21
Positions: 85.1%
In the 10 largest: −19.4%
Value vs. prior quarter

Ten largest positions, share of reported value

Riot Platforms Inc. · Note 0.750% 1/122.4%
Pg&e Corp. · Pfd Conv Ser A19.8%
Echostar Corp. · CL A16.0%
Echostar Corp. · Note 3.875%11/38.7%
Graftech Intl Ltd SR NT6.3%
Evolent Health Inc. · CL A2.8%
Northern Oil & Gas Inc. · Note 3.625% 4/12.7%
Coinbase Global Inc. · Note 0.250% 4/02.2%
Mks Inc.. · Note 1.250% 6/02.1%
Peloton Interactive Inc. · CL A2.1%

Together, the ten largest are 85.1% of reported value.

The 21 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 21 July 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $69.6M is not its $28.32B in regulatory assets and does not represent any individual client's portfolio.

Fees

Benefit Street Partners is paid through a percentage of assets under management and performance-based fees.

Benefit Street Partners’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Benefit Street Partners has 4 offices, with 4 listed addresses across 4 states.

Listed office addresses by state

New York · 1 listed address

One Madison Avenue, Suite 1600, New YorkHQ

Registration details

Legal name: Benefit Street Partners L.L.C.
Headquarters: One Madison Avenue, Suite 1600, New York, NY 10010
Phone: 212-588-6770
Website: Not reported
SEC file: 801-72843
Structure: Delaware LLC
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Benefit Street Partners have?

Benefit Street Partners has 74 clients and manages $28.3 billion for them, as of July 2026. They include 70 pooled investment vehicles and 4 investment companies.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 July 2026

What services does Benefit Street Partners offer?

Benefit Street Partners provides portfolio management for investment companies and portfolio management for pooled vehicles.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Benefit Street Partners have?

Benefit Street Partners has 0 investment adviser representatives registered with state securities authorities, out of 241 employees, and 110 perform investment advisory functions. 5 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

Who owns Benefit Street Partners?

Benefit Street Partners’ direct owner is Franklin Resources, Inc. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 July 2026

How does Benefit Street Partners get paid?

Benefit Street Partners is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file