Tuesday, 23 September 2014
Last updated 8 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.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.