U.S. investment firm Blackstone Group said its credit platform, GSO Capital Partners, will establish a new office in Toronto.
The new location, part of an expansion in GSO’s North American origination activities, is expected to open in the first half of 2019.
Managing Director Michael Carruthers, who joined GSO in 2006 from Credit Suisse‘s Toronto operation, will lead coverage in Canada and the U.S. Midwest region.
Overseeing assets of about US$128 billion, GSO is focused on the global leveraged-finance market.
GSO Announces Opening of San Francisco and Toronto Offices
New York, March 11, 2019 – Blackstone (NYSE:BX) today announced that its global credit platform, GSO Capital Partners (GSO), is further expanding its North American origination effort to include two new office locations in San Francisco and Toronto.
GSO currently has offices in New York, London, Dublin, Houston, Frankfurt and Southern California. The new offices will provide regional presence to strengthen existing relationships and expand GSO’s ability to reach new customers in two important North American markets.
Dwight Scott, President of GSO, said “With a growing capital base and increasing origination activity across North America, these new offices are a logical extension of our presence and a testimony to the confidence we have in our growing team as well as in the opportunities in these major markets. This expansion represents GSO’s continued commitment to consistently meeting the needs of our clients and driving deal flow for our investors.”
The offices are expected to open in the first half of 2019. Ferdinand Niederhofer has been tapped to lead coverage out of GSO’s San Francisco office while Michael Carruthers will focus on Canada and the Midwest. Bill Hobbs will lead GSO’s efforts in the Southeast, and will continue to be based out of the firm’s New York office.
“We now have over 100 talented individuals across our private lending practice and we are fortunate to have highly experienced leaders like Ferdinand, Mike and Bill, along with our teams in New York and Houston, who can support us in further meeting the growing needs of our clients,” added Scott.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $472 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Blackstone GSO
GSO Capital Partners LP is the global credit investment platform of Blackstone. With approximately $128 billion of assets under management, GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies.