# EDGAR Filing Document

**Accession Number:** 0000038777
**File Stem:** 0000038777-25-000114
**Filing Date:** 2025-6
**Character Count:** 16217
**Document Hash:** b04a954cf94a59f280af8c3f018971f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000038777-25-000114.hdr.sgml**: 20250611

**ACCESSION NUMBER**: 0000038777-25-000114

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250611

**DATE AS OF CHANGE**: 20250611

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin BSP Private Credit Fund
- **CENTRAL INDEX KEY:** 0001794041

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94463
- **FILM NUMBER:** 251039727

**BUSINESS ADDRESS:**
- **STREET 1:** ONE MADISON AVENUE
- **STREET 2:** SUITE 1600
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212-588-6770

**MAIL ADDRESS:**
- **STREET 1:** ONE MADISON AVENUE
- **STREET 2:** SUITE 1600
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN RESOURCES INC
- **CENTRAL INDEX KEY:** 0000038777
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 132670991
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **STREET 2:** BUILDING 920/2, LEGAL-FRI SECRETARY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 30)**

**FRANKLIN BSP PRIVATE CREDIT FUND**

*(Name of Issuer)*

**ADVISOR CLASS SHARES OF BENEFICAL INTEREST**

*(Title of Class of Securities)*

**35242N202**

*(CUSIP Number)*

**Thomas C. Merchant**<br>One Franklin Parkway<br>San Mateo CA 94403<br>800-632-2350

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/10/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **35242N202** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Franklin Resources, Inc.** | Name of reporting person<br>**Franklin Resources, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**7739178.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**7739178.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7739178.00** | Aggregate amount beneficially owned by each reporting person<br>**7739178.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**60.2%** | Percent of class represented by amount in Row (11)<br>**60.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** 1.Consists of 4,955,483 Advisor Class Shares of Beneficial Interest held in a Franklin Resources, Inc.'s subsidiary's corporate account and 2,783,694 held for the benefit of a fund managed by Franklin Advisers, Inc.

2. Percentage represents the current beneficial ownership percentage that Franklin Resources, Inc. and its investment management subsidiaries may be deemed to beneficially own based upon 12,854,518 Advisor Class Shares of Beneficial Interest outstanding as of June 10, 2025.

| **CUSIP No.** | **35242N202** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Charles B. Johnson** | Name of reporting person<br>**Charles B. Johnson** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **35242N202** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Rupert H. Johnson, Jr.** | Name of reporting person<br>**Rupert H. Johnson, Jr.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **35242N202** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BSP Fund HoldCo (Debt Strategy) L.P.** | Name of reporting person<br>**BSP Fund HoldCo (Debt Strategy) L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**4955483.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**4955483.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4955483.00** | Aggregate amount beneficially owned by each reporting person<br>**4955483.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**38.6%** | Percent of class represented by amount in Row (11)<br>**38.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **35242N202** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Franklin Advisers, Inc.** | Name of reporting person<br>**Franklin Advisers, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2783694.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2783694.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2783694.00** | Aggregate amount beneficially owned by each reporting person<br>**2783694.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**21.7%** | Percent of class represented by amount in Row (11)<br>**21.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
ADVISOR CLASS SHARES OF BENEFICAL INTEREST

**(b) Name of Issuer:**
FRANKLIN BSP PRIVATE CREDIT FUND

**(c) Address of Issuer's Principal Executive Offices:**
One Madison Avenue, Suite 1600, New York, NY, 10010

**Item 4. Purpose of Transaction**

Holdco acquired the Shares for investment and to support the Issuer in its investment strategy. Franklin Global Allocation Fund acquired the Shares for investment purposes.

Except as described above, none of the investment management subsidiaries of FRI, and none of any of the other reporting persons covered by this Schedule 13D, currently has any plans or proposals that relate to or would result in any of the actions described in paragraphs (a) through (j) of the instructions to Item 4 of Schedule 13D, or any present plans or intentions to acquire or dispose of any securities of the Issuer.

**Item 5. Interest in Securities of the Issuer**

**(a)**
7,739,178 or 60.2%

**(b)**
Sole power to vote or to direct the vote of the Shares:
Franklin Resources, Inc.:   0
Charles B. Johnson:   0
Rupert H. Johnson, Jr.:   0
BSP Fund HoldCo (Debt Strategy) L.P.:  4,955,483
Franklin Advisers, Inc.:  2,783,694

Shared power to vote or to direct the vote of the Shares:  0

Sole power to dispose or to direct the disposition of the Shares:
Franklin Resources, Inc.:  0
Charles B. Johnson:  0
Rupert H. Johnson, Jr.:  0
BSP Fund HoldCo (Debt Strategy) L.P.:  4,955,483
Franklin Advisers, Inc.:  2,783,694

Shared power to dispose or to direct the disposition of the Shares: 0

**(c)**
None of the Reporting Persons have effected any transactions in the Shares during the past sixty days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

HoldCo entered into subscription agreements with the Issuer on each of August 18, 2021, October 3, 2022, and April 28, 2023.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Franklin Resources, Inc.

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Thomas C. Mandia, Assistant Secretary of Franklin Resources, Inc.

**Date:** 06/11/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Charles B. Johnson

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Attorney in Fact for Charles B. Johnson pursuant to Power of Attorney

**Date:** 06/11/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Rupert H. Johnson, Jr.

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Attorney in Fact for Rupert H. Johnson, Jr. pursuant to Power of Attorney

**Date:** 06/11/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BSP Fund HoldCo (Debt Strategy) L.P.

**Signature:** /s/SHIRLEY HAMBELTON

**Name/Title:** Shirley Hambelton, Secretary of Franklin Templeton Institutional GP LLC

**Date:** 06/11/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Franklin Advisers, Inc.

**Signature:** /s/THOMAS C. MANDIA

**Name/Title:** Thomas C. Mandia, Assistant Secretary of Franklin Advisers, Inc.

**Date:** 06/11/2025