BSP Debt Fund V

BSP Debt Fund V is the fifth flagship private credit vehicle of Benefit Street Partners (BSP), a Franklin Templeton-affiliated alternative credit manager overseeing approximately $75 billion in assets. The fund held its final close in January 2024 at $4.7 billion of investable capital, making it one of the largest private credit fundraises completed in North America in recent years and the largest in BSP's history for this strategy. BSP Debt Fund V pursues senior secured direct lending to middle-market and upper-middle-market companies in the United States, focusing on floating-rate structures that provide natural protection against interest rate volatility. The strategy targets privately originated, first-lien senior secured loans and unitranche facilities to U.S.-based companies across a broad range of industries, with particular emphasis on private equity-sponsored and non-sponsored borrowers with revenues typically between $50 million and $750 million. The fund's investment mandate covers both sponsored and non-sponsored credits, giving BSP flexibility to source deals across the full U.S. private credit market. Benefit Street Partners, a successor entity to the credit operations founded at Providence Equity Partners, benefits from deep origination relationships built over decades across the U.S. leveraged finance and credit markets. The firm's credit platform spans performing credit, structured credit, high yield, distressed, and real estate debt, allowing Fund V to leverage cross-asset intelligence in its underwriting process. Legal counsel for the final close was provided by Ropes & Gray, consistent with the firm's prior fundraising.