Tuesday, 5 May 2015
Last updated 10 hours ago
Jul 13 2010 | 1:12pm ET
GSO Capital Partners, the credit hedge fund arm of the Blackstone Group, has raised more than $3 billion for a new fund that will provide financing to distressed middle-market companies.
The Blackstone/GSO Capital Solutions Fund held its final closing with commitments in excess of $3.25 billion, more than $1 billion more than the original $2 billion target.
GSO and Blackstone said the fund’s investors include “a diverse group of domestic and international pension funds, sovereign wealth funds, endowments, foundations and family offices.” Among them, according to Prequin, are the California Public Employees’ Retirement System, California State Teachers’ Retirement System and the Korean Investment Corp.
The new fund will provide “capital solutions” to distressed companies, primarily in the U.S. and western Europe. It has already deployed some $600 million it has raised in seven investments.
“There are many great business franchises facing liquidity issues,” Bennett Goodman, co-founder of GSO, said. “We’re delighted to have raised a new fund of this magnitude to assist mid-market companies with their financing needs.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…