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Stock impact report

REFILE-Blackstone eyes US$7.5bn for mezzanine debt [Reuters]

Blackstone Inc. (BX) 
Last blackstone inc. earnings: 4/23 06:56 am Check Earnings Report
Company Research Source: Reuters
REFILE-Blackstone eyes US$7.5bn for mezzanine debt (Adds additional codes, adjusts dateline) By Andrew Hedlund NEW YORK, Jul 6 (LPC) - Private equity firm Blackstone Group LP’s credit arm GSO Capital Partners is seeking US$7.5bn for its fourth subordinated debt vehicle, according to investor notes from the Teachers’ Retirement System of Louisiana. The New York-based asset manager has launched its GSO Capital Opportunities Fund IV (Fund IV), which is looking to surpass the US$6.5bn raised by its predecessor (Fund III), the pension fund notes show. Fund IV will invest US$100m to US$450m in mezzanine debt for North American and Western European businesses that have enterprise values between US$500m and US$5bn. With US$121bn in assets under management, GSO invests in leveraged loans, high yield bonds, mezzanine debt and direct lending opportunities, among others. The Fund IV portfolio will consist of between 30 to 40 investments with a hold period of three to five years. Fund III posted a Show less Read more
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