GSO Capital Partners' Third Capital Solutions Fund Closes on $7 Billion in LP Commitments
New York, April 5, 2018 - GSO Capital Partners, Blackstone’s (NYSE: BX) credit platform, today announced the final closing of its third stressed / distressed fund, GSO Capital Solutions Fund III (“the Fund”), at its hard cap of $7.0 billion, an increase of approximately 40% from GSO’s second capital solutions fund raised in 2013. GSO received strong support from both existing and new investors, with demand surpassing the Fund’s $7.0 billion hard cap. GSO sourced commitments from a global investor base, including U.S. state, corporate and international pension funds, financial institutions, endowments, foundations and family offices.
This is GSO’s third fund designed to provide capital solutions to companies facing liquidity issues, including pending debt maturities, liquidity shortfalls and temporary cyclical challenges, needing capital to avoid imminent bankruptcy, or needing assistance in their exit from bankruptcy. GSO has deployed over $8.7 billion in the strategy to date across a broad range of sectors and geographies, with a focus on the U.S. and Europe.
Bennett Goodman, Senior Managing Director and Co-Founder of GSO Capital Partners, said, “We are delighted by and appreciative of the significant demand for our third fund from limited partners. This Fund provides us with the capital necessary to continue our strategy of being a partner of choice to those companies seeking capital to solve their balance sheet and liquidity needs, enabling them to focus on their business and growth objectives.”
About GSO Capital Partners
GSO Capital Partners LP is the global credit investment platform of Blackstone. GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies. Overall, Blackstone’s credit platform, which also includes Blackstone Insurance Solutions and Harvest Fund Advisors LLC’s energy MLP business, has assets under management of approximately $138 billion.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $430 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at china.blackstone.com. Follow Blackstone on Twitter @Blackstone.