Benefit Street Partners originated a company record $2.8 billion of commitments across 41 issuers in Q4/21, resulting in company record originations of $7.7 billion across 128 issuers for the year. Approximately 87% of originations were in senior secured loans and six commitments were for more than $200 million.
Benefit Street Partners now manages more than $36 billion in assets across private debt, special situations, CLOs, liquid loans and commercial real estate strategies as of Nov. 30, 2021.
Benefit Street Partners also reported results for the business development companies it manages, including Franklin BSP Lending and Franklin BSP Capital.
Franklin BSP Lending, formerly Business Development Corporation of America, originated a company record of more than $700 million of commitments across 34 issuers in Q4/21, resulting in company record annual originations of more than $1.5 billion across 103 issuers for the year. Franklin BSP Lending also achieved its sixth consecutive quarter of NAV appreciation at the end of September 2021 and rebranded as Franklin BSP Lending earlier this month. In addition, the company acquired Encina Equipment Finance in December,
Franklin BSP Capital originated more than $250 million of commitments across 23 issuers in Q4/21, resulting in originations of more than $500 million across 63 issuers for the year. The company also raised approximately $600 million in capital commitments as of Sept. 30, 2021.
“BSP’s record originations in both Q4 and full year 2021 demonstrate the strength of our private debt platform,” Thomas Gahan, CEO of Benefit Street Partners, said. “With a strong pipeline to begin 2022, we expect to continue providing customized financing solutions to our borrowers and attractive risk-adjusted returns to our investors.”
“Our record originations in 2021 translated directly to the strong performance of our BDCs,” Richard Byrne, president of Benefit Street Partners and CEO of Franklin BSP Lending and Franklin BSP Capital, said. “Going forward, we believe our BDC shareholders will continue to benefit from our premier private debt platform.”