GSO Capital Partners, an affiliate of The Blackstone Group, has closed a new $3.25 billion fund, which will provide “capital solutions to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities or cyclical downturns.”
GSO Capital Partners LP, the credit business of The Blackstone Group (NYSE: BX), today announced the final closing of the Blackstone / GSO Capital Solutions Fund (“the Fund”) with total commitments of over $3.25 billion.
The Fund’s strategy is focused on providing privately negotiated “capital solutions” to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities, cyclical downturns in their businesses or other funding requirements. The strategy leverages GSO Capital Partners’ distressed, credit and trading expertise, along with its unique deal origination capabilities. Thus far, the Fund has invested approximately $600 million in seven different companies.
Bennett Goodman, Senior Managing Director of The Blackstone Group and Co-Founder of GSO Capital Partners said, “There are many great business franchises facing liquidity issues. We’re delighted to have raised a new fund of this magnitude to assist mid-market companies with their financing needs.”
Investors in the Fund include a diverse group of domestic and international pension funds, sovereign wealth funds, endowments, foundations and family offices.
About GSO Capital Partners
GSO Capital Partners, with approximately $29 billion of assets under management, is one of the largest credit-oriented alternative asset managers in the world and a major participant in the leveraged finance marketplace. GSO Capital Partners seeks to generate superior risk-adjusted returns in its credit business by investing in a broad array of public and private instruments across multiple investment strategies. Key areas of focus include mezzanine investments, distressed situations, credit hedge funds, leveraged loans and other special situation strategies.
About The Blackstone Group
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, funds of hedge funds, credit-oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.