Blackstone Completes GSO Absorption

The Blackstone Group has completed its acquisition of alternative asset manager GSO Capital Partners. The deal is worth up to $945 million, including an initial value of $635 million in cash and Blackstone Holdings partnership units, and up to another $310 million in earn-outs over the next five years. It was partially financed via Blackstone's buyback of $500 million in shares.


GSO manages a multi-strategy hedge fund, a mezzanine fund, a senior debt fund and a variety of CLO vehicles.