Benefit Street Partners Secures $10 Billion for its Flagship U.S. Real Estate Debt Strategy, Marking the Largest Fundraise in the Firm’s History for the Asset Class

Benefit Street Partners (“BSP”), a leading credit-focused alternative asset manager, announced the final close of BSP Real Estate Opportunistic Debt Fund II (“ODF II”), providing $10 billion of investable capital, inclusive of related vehicles and anticipated leverage, across $3 billion of equity commitments. This fundraise caps a year of historic deployment for BSP’s commercial real estate team, which originated nearly $9 billion of real estate investments during 2025. (1)

Consistent with its predecessor fund, ODF II focuses on originating senior and junior commercial real estate debt investments across major U.S. markets, with a particular emphasis on the multifamily sector. The strategy leverages BSP’s integrated credit platform and longstanding relationships with borrowers, sponsors, and intermediaries nationwide, targeting middle-market opportunities where flexible capital and deep underwriting expertise can unlock value in transitional, distressed, or otherwise complex commercial properties.