Friday, 24 February 2017
Last updated 40 min 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.