# Benefit Street Partners L.L.C.

> Benefit Street Partners L.L.C. is an SEC-registered investment advisory firm in New York, NY, registered since 2011, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 30, 2026.

- CRD: 158672
- Filed as: BENEFIT STREET PARTNERS L.L.C.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/158672
- AdvisorCensus page: https://advisorcensus.com/firm/benefit-street-partners-l-l-c-new-york-ny-158672

## Quick answers

**How is Benefit Street Partners L.L.C. compensated?**
On its Form ADV (Item 5.E, October 2026), Benefit Street Partners L.L.C. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Benefit Street Partners L.L.C. located?**
Benefit Street Partners L.L.C.'s principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is Benefit Street Partners L.L.C. registered with the SEC or a state?**
Benefit Street Partners L.L.C. is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 158672.

**How much does Benefit Street Partners L.L.C. manage?**
Benefit Street Partners L.L.C. reports $28,315,800,441 in regulatory assets under management in its Form ADV filing dated July 30, 2026 (100% discretionary).

**How have Benefit Street Partners L.L.C.'s assets and staff changed since 2021?**
In the Form ADV data for Benefit Street Partners L.L.C.: Regulatory assets under management: $23,768,645,328 in the October 2021 data and $28,315,800,441 in the October 2026 data, up 19%. Total employees: 190 in October 2021 and 241 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Benefit Street Partners L.L.C. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (70); investment companies (4).

**Does Benefit Street Partners L.L.C. report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.H(2) (pending civil proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/158672

**What changed in Benefit Street Partners L.L.C.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 115 to 110. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $28,315,800,441
- Discretionary: $28,315,800,441
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 4 | $977,301,307 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 70 | $27,338,499,134 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2011 (14 years)
- Employees: 241 total, 110 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DE, FL, NC, NY, TX
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.H(2): Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/158672

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Raleigh, NC
- Ranga Reddy, Hyderabad
- Walnut Creek, CA
- West Palm Beach, FL

### Websites listed on Form ADV (Item 1.I)
- [bspcredit.com/us](https://bspcredit.com/us)
- [fbrtreit.com](https://fbrtreit.com)
- LinkedIn @BENEFIT-STREET-PARTNERS
- LinkedIn @BENEFIT-STREET-PARTNERS-COMMERICAL-REAL-ESTATE

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $23,768,645,328 | 190 | March 31, 2021 |
| October 2022 | $27,535,405,299 | 218 | September 16, 2022 |
| October 2023 | $27,324,597,801 | 221 | August 24, 2023 |
| October 2024 | $28,297,736,837 | 227 | August 27, 2024 |
| October 2025 | $27,888,905,793 | 234 | July 21, 2025 |
| October 2026 | $28,315,800,441 | 241 | July 30, 2026 |

Regulatory assets under management: $23,768,645,328 in the October 2021 data and $28,315,800,441 in the October 2026 data, up 19%.
Total employees: 190 in October 2021 and 241 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 115 to 110.
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Registered or notice-filed in TX.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Benefit Street Partners L.L.C. (CRD 158672): Form ADV filing data as of October 2026.