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.
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