19 October 2017
Clifford Chance advises GSO Capital Partners on the fundraising for GSO Diamond Portfolio Fund
Clifford Chance advised GSO Capital Partners LP (“GSO”), the global credit investment platform of The Blackstone Group L.P., on the fundraising of an opportunistic credit fund, GSO Diamond Portfolio Fund. The fundraising process took less than two months and resulted in a "one and done" fund closing on approximately US$950 million in capital commitments.
GSO is the global credit investment platform of Blackstone (NYSE: BX). With approximately US$95 billion of assets under management, GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies, including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies, and they also advance rescue financing to help distressed companies.
The Clifford Chance team was led by Michael Sabin (Private Funds, New York) and consisted of David Moldenhauer and Hannah Richard (Tax, New York), Sophie Hasse, Sara Krieger and Bronte Turk (Private Funds, New York), Stephanie Dunne (Private Funds, London), Paul Koppel and Atul Jain (ERISA, New York) and Owen Lysak (Funds Regulatory, London).