Wednesday, 26 October 2016
Last updated 4 hours ago
Jun 9 2008 | 10:49am ET
GSO Capital Partners, the leveraged finance hedge fund bought by the Blackstone Group in January, has hired a JPMorgan Chase executive to lead its new credit business in Asia.
Tim Donahue will join GSO in late August or September, according to Bloomberg News. He will serve as head of Asia credit investments, based in Hong Kong, after nine years with JPMorgan.
New York-based GSO, which manages $10 billion, is starting an Asia-Pacific fixed-income business, focusing on high-yield, mezzanine, distressed, equity-linking and leveraged debt. It will employ both public and private transactions, Bloomberg reports.
Blackstone agreed to pay as much as $910 million for GSO, founded by former Credit Suisse alternative capital chief Bennett Goodman three years ago. Donahue will report directly to Goodman, who now serves on Blackstone’s executive committee.
The Hong Kong office of GSO is the firm’s fifth—after New York, London, Los Angeles and Houston—and its first in Asia.