Wednesday, 17 September 2014
Last updated 10 hours ago
May 21 2007 | 11:02am ET
Merrill Lynch is buying a minority stake in GSO Capital Partners and will invest in a number of its strategies, the firm said today.
The New York-based hedge fund focuses on such strategies as leveraged loans, distressed investments, special situations, capital structure arbitrage, mezzanine securities and private equity, and manages roughly $8 billion.
“The investment in GSO is a continuation of our strategy to invest in best-in-class alternative investment managers worldwide,” Rohit D’Souza, who heads Merrill’s global alternatives unit, said in a statement.
GSO was founded two years ago by Bennett Goodman, the former managing partner of Credit Suisse First Boston’s alternative capital division. Goodman said, “We look forward to collaborating with [Merill] on future projects.”
Terms of the deal were not disclosed, but The Wall Street Journal reports that Merrill would own slightly less than 20% of GSO, similar to the stake it took in hedge fund DiMaio Ahmad Capital last year.
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.