The Blackstone Group L.P. : GSO Capital Partners' Second Mezzanine Fund Closes on $4 Billion
03/28/2012| 08:35am US/Eastern
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GSO Capital Partners, the credit division of Blackstone (NYSE: BX),
today announced the final closing of its second mezzanine fund, GSO
Capital Opportunities Fund II ("the Fund"), with total commitments of $4
billion, making it among the world's largest mezzanine funds and the
largest mezzanine fund to be raised following the financial crisis of
2008. GSO will invest the Fund across a broad range of sectors and
geographies, with a particular focus on the U.S. and Europe.
The Fund's size and scale allows it to focus on the underserved upper
middle market, while its flexible structure enables GSO to be creative
in solving a company's particular capital needs. With its proven
expertise in deal origination, credit selection and structuring, GSO is
consistently selected as a partner of choice by companies and private
equity firms seeking mezzanine capital for acquisitions and other
important strategic initiatives.
Thus far, the Fund has deployed or committed $780 million in four
companies, including providing financing to Sony Corp. for its
acquisition of EMI Group's publishing unit and a preferred equity
investment in a subsidiary of Chesapeake Energy created to help fund
development of the Utica oil and natural gas field.
Bennett Goodman, Senior Managing Director and Co-founder of GSO, said;
"We appreciate this extraordinary vote of confidence from our investors.
We look forward to seeking opportunities to invest this capital in
world-class companies while continuing our consistent track record for
our Limited Partners and their constituents."
About GSO Capital Partners
GSO Capital Partners LP ("GSO") is the global credit platform of
Blackstone (NYSE: BX). GSO, together with its affiliates, has
approximately $46 billion of assets under management making it one of
the largest credit-oriented alternative managers in the world and a
major participant in the leveraged finance marketplace. GSO seeks to
generate superior risk-adjusted returns in its credit business by
investing in a broad array of strategies including mezzanine, distressed
investing, leveraged loans and other special situation strategies.
About Blackstone
Blackstone is one of the world's leading investment and advisory firms.
We seek to create positive economic impact and long-term value for our
investors, the companies we invest in, the companies we advise and the
broader global economy. We do this through the commitment of our
extraordinary people and flexible capital. Our alternative asset
management businesses include the management of private equity funds,
real estate funds, hedge fund solutions, credit-oriented funds and
closed-end mutual funds. The Blackstone Group also provides various
financial advisory services, including financial and strategic advisory,
restructuring and reorganization advisory and fund placement services.
Further information is available at www.blackstone.com.
Follow us on Twitter @Blackstone.
GSO Capital Partners
Public Affairs
New York
212-583-5263
© Business Wire 2012
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