Wednesday, 28 September 2016
Last updated 16 hours ago
Mar 4 2008 | 10:09am ET
The Blackstone Group yesterday closed the acquisition of GSO Capital Partners and its affiliates for $635 million, with as much as $310 million to be paid over the next five years, contingent on specified earnings targets.
GSO specializes in the leveraged finance marketplace and currently manages approximately $10 billion in assets. It runs a multi-strategy credit hedge fund, a mezzanine fund, a senior debt fund and various collateral loan obligation vehicles.
On the private equity front, Blackstone has hired Gerry Murphy as a senior managing director in London. Murphy will focus principally on supporting Blackstone’s portfolio companies across Europe and Asia.
Before joining Blackstone, Murphy spent five years as CEO of British retail group Kingfisher, where he was responsible for the de-merger of KESA Electricals and the integration of Castorama into the group.