Saturday, 25 April 2015
Last updated 23 hours ago
Oct 6 2011 | 12:10pm ET
The Blackstone Group has acquired an €8 billion European leveraged loan hedge fund.
Blackstone's GSO Capital Partners unit will merge its own European platform with that of Dublin-based Harbourmaster Capital, Blackstone said today. The deal, terms of which were not disclosed, makes GSO one of the largest leveraged loan investors in Europe with €11.5 billion in assets.
The newly-combined unit will continue to manage Harbourmaster's funds as well as develop new Europe-focused funds.
"Harbourmaster Capital is widely recognized as a market leader in Europe, an extremely well-managed firm whose investment style and philosophy is completely consistent with ours," GSO co-founder Bennett Goodman said. "By merging our European platforms, we are creating one of the largest alternative managers in Europe, strategically positioning us to capitalize on the growing number of investment opportunities in the European corporate credit markets."
The deal is expected to close early next year.
GSO was itself acquired by Blackstone about three years ago.
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…