Franklin Templeton, Benefit Street Partners Complete Deal With Encina to Expand Asset-Backed Finance Platform

09:29 AM EDT, 10/14/2026 (MT Newswires) -- Franklin Templeton (BEN) and its unit Benefit Street Partners have completed a deal with Encina Lender Finance to expand Benefit Street's asset-backed finance platform, the company said Wednesday. The deal required a new fund backed by Franklin Templeton and Benefit Street funds to acquire an initial seed portfolio with $480 million of commitments originated by Encina, Franklin Templeton said. A 14-person investment team from Encina also joined Benefit Street to manage and originate investments, in accordance with the terms of the deal, the company said. As of Sept. 30, Franklin Templeton managed $1.8 trillion in assets, including more than $300 billion in alternative assets, of which $97 billion is managed by Benefit Street, Franklin Templeton said.