GSO Capital Partners LP, the credit division of Blackstone announced the final closing of its second capital solutions fund, GSO Capital Solutions Fund II LP, with total commitments of $5bn, an increase of over 50 percent from GSO’s first capital solutions fund raised in 2010.
GSO received strong support from both existing and new investors, with demand well surpassing the Fund’s $5bn hard cap. Investors in the Fund include a diverse group of U.S. state pension funds, corporate pension funds, sovereign wealth funds, insurance companies, endowments, foundations and family offices.
This is GSO’s second fund to provide “rescue financing” to distressed companies facing liquidity issues, including pending debt maturities, covenant violations, liquidity shortfalls and cyclical challenges, needing capital to avoid imminent bankruptcy, or seeking assistance in their exit from bankruptcy. GSO has deployed over $4 billion in the strategy to date across a broad range of sectors and geographies, with a focus on North America and Western Europe.
