In January, Blackstone announced that it would acquire GSO, an alternative asset manager specializing in leveraged finance. The acquisition will give Blackstone one of the biggest credit platforms in the industry. GSO’s $10 billion in assets augments the $11 billion that Blackstone already has in corporate debt operations.
Blackstone got a good deal, paying just $620 million initially; it will pay an additional $310 million over five years depending on earnings targets. That values GSO at just 9% of assets under management.
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