Drift Capital Partners, LLC, an alternative asset manager focused on structured credit solutions, announced that its fund, Drift Credit Opportunities Fund, LP (Drift Fund), has entered into a new $50 million senior secured credit facility that matures in 2021. The new financing will be structured as a senior revolving line of credit, which is secured by the underlying loans held by the Drift Fund. The facility was arranged by an institutional investment firm who was advised by Holland & Knight LLP. Drift was advised by K&L Gates LLP.

The proceeds from the new revolving credit facility will enable the Drift Fund to expand its portfolio of structured credit solutions to FinTech enabled Non-Bank Financial Services companies and allow them the opportunity to increase lending to "main street" businesses.

Drift anticipates that it will be able to utilize this credit facility to enhance the returns to the Drift Fund limited partners while providing additional diversification in the form of additional underlying loans.

"With this facility, we are now strategically positioned for growth as we expand our ability to structure lending solutions which ultimately empower small businesses," said McLean Wilson, Managing Partner of Drift.  "Since its inception, Drift has been focused on developing solutions to bridge the chasm between institutional investors and main street businesses and we believe this facility is an important step toward solidifying that connection."