# Benefit Street Partners Limited

> Benefit Street Partners Limited is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated May 7, 2026.

- CRD: 160617
- Filed as: BENEFIT STREET PARTNERS LIMITED
- Also doing business as: ALCENTRA MF II GP LIMITED, ALCENTRA S.A.R.L, ALCENTRA UK DLF GP LIMITED, CLAREANT JERSEY GP LIMITED PARTNERSHIP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: May 7, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/160617
- AdvisorCensus page: https://advisorcensus.com/firm/benefit-street-partners-limited-london-160617

## Quick answers

**How is Benefit Street Partners Limited compensated?**
On its Form ADV (Item 5.E, October 2026), Benefit Street Partners Limited 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 Limited located?**
Benefit Street Partners Limited's principal office is in London, United Kingdom, according to its Form ADV.

**Is Benefit Street Partners Limited registered with the SEC or a state?**
Benefit Street Partners Limited is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160617.

**How much does Benefit Street Partners Limited manage?**
Benefit Street Partners Limited reports $22,614,635,412 in regulatory assets under management in its Form ADV filing dated May 7, 2026 (98% discretionary).

**How have Benefit Street Partners Limited's assets and staff changed since 2021?**
In the Form ADV data for Benefit Street Partners Limited: Regulatory assets under management: $24,027,162,134 in the October 2021 data and $22,614,635,412 in the October 2026 data, down 6%. Total employees: 134 in October 2021 and 164 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 Limited serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (41); investment companies (1).

**Which custodians does Benefit Street Partners Limited use?**
Benefit Street Partners Limited's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists J.P. Morgan SE Amsterdam Branch, Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A., and State Street Bank and Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Benefit Street Partners Limited report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160617

**What changed in Benefit Street Partners Limited's recent Form ADV filings?**
In the June 2026 filing data: 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

### Custodians (Schedule D, Section 5.K(3))
- J.P. Morgan SE Amsterdam Branch
- Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A.,
- State Street Bank and Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $22,614,635,412
- Discretionary: $22,087,876,630
- Non-discretionary: $526,758,782

### 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 | 1 | $461,622,362 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 41 | $20,408,521,610 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $1,744,491,440 |
| 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)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2012 (14 years)
- Employees: 164 total, 45 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- bspcredit.com
- fbccbdc.com
- fbrtreit.com
- LinkedIn @alcentra

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $24,027,162,134 | 134 | August 26, 2021 |
| October 2022 | $22,826,288,780 | 145 | May 6, 2022 |
| October 2023 | $19,617,962,380 | 166 | April 18, 2023 |
| October 2024 | $20,375,355,958 | 163 | September 10, 2024 |
| October 2025 | $19,061,484,836 | 172 | March 31, 2025 |
| October 2026 | $22,614,635,412 | 164 | May 7, 2026 |

Regulatory assets under management: $24,027,162,134 in the October 2021 data and $22,614,635,412 in the October 2026 data, down 6%.
Total employees: 134 in October 2021 and 164 in October 2026.

## Changes in the filing (last 12 months)

### June 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 49 to 45.
- Regulatory assets under management went from $19,061,484,836 to $22,614,635,412 (+19%).
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Changed its legal name from Alcentra Limited to Benefit Street Partners Limited.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Benefit Street Partners Limited (CRD 160617): Form ADV filing data as of October 2026.