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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...