- Michael Comparato to transition to Senior Advisor after 11 years leading BSP’s real estate debt team
- Jerry Baglien to lead the platform supported by its Executive Committee, senior team, BSP and Franklin Templeton
New York, 17 September 2026: Benefit Street Partners (BSP), Franklin Templeton’s global private credit investment manager with approximately $97 billion in assets under management, today announced that Mike Comparato will transition to a Senior Advisor role after 11 years leading the firm’s Commercial Real Estate Debt (CRED) business.
Comparato has chosen to step back from day-to-day executive leadership to spend more time with his family.
Jerry Baglien, BSP CRED’s long-serving CFO, COO and member of the firm’s Investment Committees, will now lead the day-to-day management of the business. He will be supported by CRED’s newly formed Executive Committee and senior investment team, providing continuity for investors, borrowers, business partners and employees. BSP is also conducting a search for an additional senior investment professional for the platform and expects to announce an appointment in due course.
BSP’s CRED business has $18 billion in assets under management and recently completed the successful close of its second flagship fund. The platform is supported by a robust 320-person team across origination, underwriting, asset management and securitization.
David Manlowe, CEO of BSP, said: “Mike has helped build an exceptional real estate debt franchise, assembled a talented team, and grown the business substantially over the past decade. We are grateful for his many contributions to BSP and pleased he will continue to support the platform. Jerry has been an integral member of the platform’s leadership and together with our Executive Committee and senior team will provide continuity as the business enters its next phase.”
About Benefit Street Partners
Benefit Street Partners (“BSP”) is an alternative credit pioneer with $96.4 billion in assets under management (including Apera Asset Management) as of 30 June 2026. It seeks to deliver attractive, risk-adjusted returns through its deep specialism, long-term relationships and global reach. A wholly owned subsidiary of Franklin Templeton, BSP is focused on credit. Through its disciplined, solutions-oriented approach, BSP unlocks opportunities across market cycles and geographies. The firm manages strategies spanning private debt, real estate debt, structured credit, and liquid loans. For more information, visit bspcredit.com.