In the current private equity financing drought, Blackstone Group has bought itself a reservoir with the purchase of GSO Capital Partners, a New York-based firm that finances buyouts, among other endeavors.
GSO, an alternative asset manager specializing in leveraged finance, manages approximately $10 billion, which is deployed in a multistrategy credit hedge fund, a mezzanine fund, a senior debt fund, and various collateralized debt obligation (CDO) vehicles.
The acquisition is expected to conclude...