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 in the first quarter. The purchase price includes cash and Blackstone Holdings units currently valued at $620 million. An additional $320 million is set to