The sidecar vehicle, GSO Liquidity Overseas Sidecar, has a target of $500 million. Fund-raising for the fund kicked off in October 2008.
A Blackstone spokesperson did not return calls for comment.
The new sidecar fund, which had raised $29.2 million in capital commitments from eight accredited investors, according to the latest regulatory filing, is a companion piece to GSO Liquidity Overseas Partners, a $500 million-targeted fund that was launched in September 2007. The fund-raising status of the main fund could not be determined by press time.
Both funds, the sidecar and the lead vehicle, seek limited partner commitments of no less than $5 million apiece, though that amount can be waived at the discretion of the general partner. Neither fund has employed the use of a placement agent, according to regulatory filings for both pools.
Founded in 2005, GSO Capital invests in public and private securities, including leveraged loans, distressed investments, special situations, capital structure arbitrage, relative value, mezzanine securities and private equity.
Blackstone acquired GSO Capital in March 2008 in a transaction valued at $635 million. The deal also included an agreement to pay an additional $310 million over the following five years if GSO Capital met earnings targets. At the time, GSO Capital had about $10 billion in assets under management, according to a regulatory filing. That number has since doubled to about $20.2 billion in assets under management as of March 31, according to Blackstone’s website. —Ari Nathanson
Centerbridge raises $467.1M
The New York-based firm, run by Jeffrey Aronson and Mark Gallogly, raised an undisclosed amount for its first buyout fund, called Centerbridge Partners, which closed in 2006.
The firm’s latest special credit fund has 37 investors and is using Park Hill as a placement agent. The target is not disclosed. —Erin Griffith
Oak Hill closes just shy of $4B target
Oak Hill Capital Partners
Stamford, Conn.-based Oak Hill Capital closed its second fund in 2005 with $2.5 billion and had a 7.1% IRR as of year-end 2008, according to limited partner California Public Employees’ Retirement System.
Pathway moves ahead with $290M
Merit eyes $600M