GSO To Close Hong Kong Trading Desk

Jan 13 2009 | 4:02am ET

Blackstone Group credit hedge fund arm GSO Capital Partners is set to become the latest hedge fund to quit Asia. GSO plans to close its Hong Kong trading desk, Bloomberg New reports.

GSO will transfer Asia-Pacific head Tim Donahue, managing director Sanjeev Khemlani, associate Angad Banga and vice president Abhimanyu Prakash to either New York or London, where they will continue to cover the region. Some of the investment team may stay in Asia, according to Bloomberg.

Blackstone bought GSO, which was founded by Credit Suisse veteran Bennett Goodman, last year for almost $1 billion. The $10 billion shop opened the Hong Kong office in September, but it hasn’t made any trades because the firm believe Asian bonds and loans are priced too high.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of