Hints and tips:
...Scott’s tenure in the unit dates back to 2005, when the business was known as GSO Capital Partners. Blackstone acquired the business, known for its canny wagers in credit markets, in 2008....
...The UK-based group said Brightline was “looking for an opportunistic pretext to extricate itself” because it had “second thoughts about the deal”. It is seeking about $250mn in damages....
...Assuming the fund’s partners would rather die than forego $140mn in fees revenue a year, let’s look at the firm’s only two real options: opportunistic geographic expansion or saying “we’re investing in AI...
...Tripp Smith, one of the founders of GSO Capital — the predecessor to Blackstone Credit — has sold his credit investment firm Iron Park Capital to General Atlantic and will now lead the US-based private equity...
...Blackstone acquired debt manager GSO in 2008, seeding its expansion into credit and insurance-based investments, which now comprise 28 per cent of the group’s $940bn in assets....
...James also was a crucial player in building Blackstone’s secondaries business — funds set up to buy interests in older private equity funds — which has $45bn in assets, as well as its opportunistic investment...
...Indeed, Blackstone’s founder Stephen Schwarzman has likened DCI to GSO Capital Partners, which it bought in 2008 and is today the heart of its $178bn credit business....
...Partners....
...partners out of the door....
...Paulo Eapen, head of the European business at Blackstone’s GSO Capital Partners, said it was busier than ever....
...Drew Dickson, founder of Albert Bridge, has previously told the FT that a valuation of about £200m would be “somewhat opportunistic”....
...Almanza has called GardaWorld’s bid “derisory” and “opportunistic”....
...But Blackstone’s GSO Capital believes that the IP collateral belongs to it and other loanholders who are looking to halt Elliott’s gambit....
...Blackstone’s debt unit, GSO Capital, itself now exceeds $130bn in assets....
...M&A partner Frank Layson, who was formerly at DLA Piper, will lead the eight-lawyer team....
...Nnamdi Iregbulem has joined Lightspeed Venture Partners as a partner. He has previously worked as an investor at Iconiq Capital....
...He began attending GSO investment committee meetings after he replaced Mr Goodman’s longtime colleague Tony James as Blackstone chief operating officer last year....
...It doesn’t help that GSO is nursing losses on several big investments made by its energy arm. And who used to run that business? None other than Scott himself....
...David Goldstein has joined Clifford Chance as a partner in its private funds group in New York. He was previously global co-head of DLA Piper’s investment funds practice....
...Other purchases are either “primarily opportunistic” or are based on “planning for the post-crisis environment, often tech deals”....
...Melco’s Mr Ho is a former business partner of Crown’s biggest shareholder, billionaire James Packer. Melco had encountered regulatory hurdles in Australia....
...Capping off the list are Christiana Riley, head of Deutsche Bank Americas, Paul Taubman, founder, chairman and CEO of PJT Partners, Dwight Scott, president of GSO Capital Partners and David Marcus, head...
...As part of this shift, Mr Scott, a former investment banker who was chief financial officer of energy group El Paso Corporation before joining GSO in 2005, has become the public face of the firm....
...Bennett Goodman — the G in GSO who just stepped back from running Blackstone’s powerful credit unit — cut his teeth there....
...“In the first couple of weeks of March there were a lot of buyers and very few sellers”, said David Riley, a partner at BlueBay Asset Management....
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