Tuesday, 5 May 2015
Last updated 10 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…