Monday, 25 May 2015
Last updated 2 days ago
Feb 27 2008 | 7:49am ET
The Blackstone Group’s deal for hedge fund GSO Capital Partners has been given the green light by regulators.
The Federal Trade Commission signed off on the private equity giant’s proposed $930 million acquisition of GSO, it said yesterday. New York-based GSO manages some $10 billion, including a credit hedge fund.
Under the deal, Blackstone will pay $620 million in cash upfront, with another $310 million over five years, subject to GSO meeting earnings targets.
As part of the deal, Blackstone is also buying out Merrill Lynch’s share of the firm, which took a reported 20% stake in GSO last May.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…