SEC-Registered Investment Adviser
Benefit Street Partners L.L.C.
Registration facts are from the firm's Form ADV Part 1A as published by the SEC, latest filing dated July 30, 2026. Figures are firm-level: they describe the advisory firm, not any single offering.
Registration
- Status
- Approved
- Registered since
- November 9, 2011
- Principal office
- One Madison Avenue, Suite 1600, New York, NY 10010
- Organized as
- Limited Liability Company, DE
- Fiscal year end
- December
- Other offices
- 4
Scale
- Regulatory AUM
- $28.3B
- Attributable to non-US clients
- $8.3B
- Accounts
- 74
- Clients
- 0
- Employees
- 241, 110 in advisory roles
- Private funds advised
- 71
- Private fund gross assets
- $27.7B
- Fund types
- 47 hedge funds, 1 private equity funds, 4 real estate funds
- Funds with Form D records
- 18 issuers in AltStreet's ledger, $5.0B reported sold across them
- Client assets in custody
- $12.6B (50 clients)
Business, clients and compensation, as filed
- Advisory activities
- portfolio management for investment companies and portfolio management for pooled investment vehicles
- Compensated by
- a percentage of assets under management and performance-based fees
- Client types
- individuals (other than high net worth) (0); high net worth individuals (0); banking or thrift institutions (0); investment companies (4); business development companies (0); pooled investment vehicles (70); pension and profit sharing plans (0); charitable organizations (0); state or municipal government entities (0); other investment advisers (0); insurance companies (0); sovereign wealth funds and foreign official institutions (0); corporations or other businesses (0)
- Also engaged as
- commodity pool operator or commodity trading advisor
- Related persons include
- a broker-dealer, another investment adviser, a commodity pool operator or commodity trading advisor and a sponsor, general partner or managing member of pooled investment vehicles
- Affiliates
- 1 broker-dealer, 25 investment advisers
Form ADV Item 11 disclosures
The firm answered yes to the following Item 11 questions. The answers cover the firm and its advisory affiliates; the Disclosure Reporting Pages on IAPD identify the subject and the outcome.
- civil proceeding pending (Item 11H(2), 2 reported)
Form D activity of the funds this firm advises, by year
18 issuers in AltStreet's EDGAR ledger are joined to this adviser through Form ADV Schedule D, with Form D filings from April 8, 2014 to February 24, 2026. Reported sold across them: $5.0B.Years are the year of each offering's first notice; sold and investors are the latest figures on each chain. Counts and totals only; the fund roster is in the terminal.
| First notice | Offerings | Reported sold | Investors |
|---|---|---|---|
| 2025 | 2 | n/a | n/a |
| 2023 | 2 | $1.8B | 98 |
| 2022 | 3 | $258.3M | 71 |
| 2021 | 1 | $517.6M | 9 |
| 2020 | 2 | n/a | n/a |
| 2019 | 1 | n/a | n/a |
| 2017 | 3 | $823.8M | 10 |
| 2016 | 2 | $337.0M | 25 |
| 2014 | 2 | $1.3B | 49 |
Registered funds this firm advises, from Form N-CEN
1 fundregistered under the Investment Company Act name this firm as investment adviser on the latest Form N-CEN. Net assets and the share of holdings at Level 3 or carried at NAV ("marks") are from the newest Form N-PORT; the flow series is on each fund's page in Terminal Pro. Fee and expense ratios are as the fund reported them on N-CEN.
| Fund | Type | Net assets | Marks | Mgmt fee | Net expenses |
|---|---|---|---|---|---|
| Franklin BSP Private Credit Fundas of June 30, 2026 | Interval fund | $118.4M | 78.1% | 1.25% | 5.19% |
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Source: SEC Form ADV via IARD (roster of October 6, 2026), matched to the platform by AltStreet analysts. Item 11 answers are as reported on the firm's Form ADV and cover the firm and its advisory affiliates; consult the firm's IAPD record for the Disclosure Reporting Pages. Brochure statements are the firm's own. Nothing on this page is investment advice.