Deals
Blackstone Raises $7 Billion for Rescue-Lending Fund
- GSO’s third bail-out loan pool tops last one by 40 percent
- High-risk lending may get boost if economy, businesses falter
This article is for subscribers only.
GSO Capital Partners, the credit arm of Blackstone Group LP, closed on $7 billion for its third rescue-lending fund.
The pool hit its hard cap, the maximum amount of outside capital it could raise under investor agreements, according to the statement, which confirmed an earlier report by Bloomberg. The $7 billion fund is about 40 percent larger than Blackstone’s previous vehicle, which closed on $5 billion in 2013.