GSO Readying $3 Billion Rescue Fund

Apr 3 2009 | 1:02am ET

Hedge fund GSO Capital Partners is planning a huge new fund that would offer financing to companies on the brink of bankruptcy.

The Blackstone Group unit may raise as much as $3 billion for the rescue fund, the New York Post reports. While many hedge funds are finding fundraising difficult in the current economic climate, the tabloid says that Blackstone chief Stephen Schwarzman has recruited some investors for the new vehicle.

The GSO fund is expected to offer debtor-in-possession financing to companies at a time when many are finding it difficult to raise needed capital. It will also help companies in bankruptcy unwind parts of their business.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note