Friday, 22 August 2014
Last updated 9 hours ago
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.
Aug 4 2014 | 7:42am ET
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The Alpha Pages Editor's Note