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Blackstone – GSO Capital Solutions Fund Closes on Over $3.25 Billion

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Blackstone bought GSO Capital Partners LP in March 2008. One of the sovereign wealth funds participating is reported to be the Korea Investment Corporation.

According to the press release, “GSO Capital Partners LP, the credit business of The Blackstone Group, today announced the final closing of the Blackstone / GSO Capital Solutions Fund (“the Fund”) with total commitments of over $3.25 billion. The Fund’s strategy is focused on providing privately negotiated “capital solutions” to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities, cyclical downturns in their businesses or other funding requirements. The strategy leverages GSO Capital Partners’ distressed, credit and trading expertise, along with its unique deal origination capabilities. Thus far, the Fund has invested approximately $600 million in seven different companies. Bennett Goodman, Senior Managing Director of The Blackstone Group and Co-Founder of GSO Capital Partners said, “There are many great business franchises facing liquidity issues. We’re delighted to have raised a new fund of this magnitude to assist mid-market companies with their financing needs.”

Investors in the Fund include a diverse group of domestic and international pension funds, sovereign wealth funds, endowments, foundations and family offices.

Source: The Blackstone Group Press Release

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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