Benefit Street Collects $2.3 billion for Credit Secondary Fund

Benefit Street Partners collected $2.3 billion for a credit secondaries fund to extend its hold on a loan portfolio from a prior flagship vehicle.

Coller Capital is the lead investor in the continuation fund, which acquired the senior-secured floating-rate loans from Benefit Street Partners Debt Fund IV, the firms said Tuesday in an emailed statement. That pool closed with $2.55 billion in 2017 and is largely composed of first-lien loans to US middle-market companies.