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Blackstone’s GSO Closes Third Capital Solutions Fund With $7B in Commitments

April 06, 2018, 08:00 AM
Filed Under: Industry News

GSO Capital Partners, Blackstone’s credit platform, today announced the final closing of its third stressed/distressed fund, GSO Capital Solutions Fund III, 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.”

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