Franklin Square, GSO Team For Global Credit Fund

Dec 6 2013 | 9:57am ET

Philly-based alternative investment manager Franklin Square Capital Partners has launched its fourth fund, a global credit vehicle.

FS Global Credit Opportunities Fund, an unlisted closed-end fund, invests in loans, bonds and other credit instruments of public and private companies, with a strong focus on the European and U.S. markets.

GSO Capital Partners, the credit platform of Blackstone, is sub-advising and Blackstone senior managing director Doug Ostrover serves as lead portfolio manager.

The new fund will employ an event-driven approach, focusing on companies it believes are undervalued by the market and taking advantage of credit market dislocations resulting from impending corporate events such as mergers, acquisitions or corporate reorganizations.

“Our goal at Franklin Square is to provide individual and smaller institutional investors with the same investment access and investor protections that larger institutions demand,” said Franklin CEO Michael C. Forman in a statement. “This new fund adds to our stable of endowment-style funds and provides our investors access to what we expect will be high-performing global opportunities.”

This is the third fund Franklin and GSO/Blackstone have partnered on.

Founded in Philadelphia in 2007, Franklin Square currently manages three funds with over $9 billion in assets as of September 30, 2013.

GSO, with $63.3 billion in assets under management as of September 30, 2013, invests in a broad array of strategies including mezzanine, distressed investing leveraged loans and other special situation strategies.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note