-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 iGpISdUZEXUUmKtb2CokIQ==

<SEC-DOCUMENT>0001470566-09-000004.txt : 20090916
<SEC-HEADER>0001470566-09-000004.hdr.sgml : 20090916
<ACCEPTANCE-DATETIME>20090916130601
ACCESSION NUMBER:		0001470566-09-000004
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20090916
DATE AS OF CHANGE:		20090916
EFFECTIVENESS DATE:		20090916

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Sankaty DIP Opportunities (Offshore), L.P.
		CENTRAL INDEX KEY:			0001470564
		IRS NUMBER:				980630958
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-134488
		FILM NUMBER:		091071580

	BUSINESS ADDRESS:	
		STREET 1:		C/O SANKATY ADVISORS, LLC
		STREET 2:		111 HUNTINGTON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
		BUSINESS PHONE:		617-516-2000

	MAIL ADDRESS:	
		STREET 1:		C/O SANKATY ADVISORS, LLC
		STREET 2:		111 HUNTINGTON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <cik>0001470564</cik>
        <entityName>Sankaty DIP Opportunities (Offshore), L.P.</entityName>
        <issuerAddress>
            <street1>111 HUNTINGTON AVENUE</street1>
            <street2></street2>
            <city>BOSTON</city>
            <stateOrCountry>MA</stateOrCountry>
            <zipCode>02199</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>617-516-2700</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands exempted limited partnership</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
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            <relatedPersonName>
                <firstName>JONATHAN</firstName>
                <middleName></middleName>
                <lastName>LAVINE</lastName>
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                <street1>C/O SANKATY ADVISORS, LLC</street1>
                <street2>111 HUNTINGTON AVENUE</street2>
                <city>BOSTON</city>
                <stateOrCountry>MA</stateOrCountry>
                <zipCode>02199</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
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            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>TIMOTHY</firstName>
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                <street1>C/O SANKATY ADVISORS, LLC</street1>
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                <stateOrCountry>MA</stateOrCountry>
                <zipCode>02199</zipCode>
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            <relatedPersonName>
                <firstName>JEFFREY</firstName>
                <middleName></middleName>
                <lastName>HAWKINS</lastName>
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            <relatedPersonAddress>
                <street1>C/O SANKATY ADVISORS, LLC</street1>
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                <zipCode>02199</zipCode>
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            <relatedPersonRelationshipList>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>JAMES</firstName>
                <middleName></middleName>
                <lastName>KELLOGG III</lastName>
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            <relatedPersonAddress>
                <street1>C/O SANKATY ADVISORS, LLC</street1>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>DAVID</firstName>
                <middleName></middleName>
                <lastName>MCCARTHY</lastName>
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            <relatedPersonAddress>
                <street1>C/O SANKATY ADVISORS, LLC</street1>
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        <relatedPersonInfo>
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                <firstName>KRISTEN</firstName>
                <middleName></middleName>
                <lastName>MUGFORD</lastName>
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                <street1>C/O SANKATY ADVISORS, LLC</street1>
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                <lastName>WOLIN</lastName>
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                <street1>C/O SANKATY ADVISORS, LLC</street1>
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            <relatedPersonRelationshipList>
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                <firstName>RICHARD</firstName>
                <middleName>C.</middleName>
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                <street1>C/O SANKATY ADVISORS, LLC</street1>
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            <relationshipClarification></relationshipClarification>
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                <firstName>KYLE</firstName>
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                <lastName>THORNDIKE</lastName>
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    <offeringData>
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            <investmentFundInfo>
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                <is40Act>false</is40Act>
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        <issuerSize>
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        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
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            <recipient>
                <recipientName>J.P. MORGAN SECURITIES, INC.</recipientName>
                <recipientCRDNumber>79</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>383 MADISON AVENUE</street1>
                    <street2></street2>
                    <city>NEW YORK</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10179</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
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                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
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        </offeringSalesAmounts>
        <investors>
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            <totalNumberAlreadyInvested>34</totalNumberAlreadyInvested>
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        <salesCommissionsFindersFees>
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            <signature>
                <issuerName>Sankaty DIP Opportunities (Offshore), L.P.</issuerName>
                <signatureName>JONATHAN LAVINE</signatureName>
                <nameOfSigner>JONATHAN LAVINE</nameOfSigner>
                <signatureTitle>DIRECTOR OF THE GENERAL PARTNER OF THE GENERAL PARTNER</signatureTitle>
                <signatureDate>2009-09-16</signatureDate>
            </signature>
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-----END PRIVACY-ENHANCED MESSAGE-----