Franklin Square, GSO Team For Global Credit Fund

Dec 6 2013 | 10:57am 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

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).