Blackstone Nets $5 Billion For Second 'Rescue Finance' Fund

Sep 6 2013 | 4:10am ET

The Blackstone Group's credit hedge-fund arm has raised $5 billion for its second distressed-lending fund.

GSO Capital Partners' Capital Solutions Fund II was oversubscribed, Blackstone said in a statement this week. It will provide financing to companies facing liquidity issues or seeking help to exit bankruptcy.

The new fund's investors include a variety of institutional clients.

"We are very appreciative of the significant investor demand for our second capital solutions fund," GSO co-founder Tripp Smith said. "A fund of this size uniquely positions GSO as one of few firms that can provide companies in the U.S. and Europe with large commitments to solve their balance sheet and liquidity challenges."

GSO's first "rescue-financing" fund raised $3.25 billion in 2010.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...