GSO / Blackstone Closes on Acquisition of Collateral Management Contracts from Callidus
New York, April 1, 2010 – GSO / Blackstone Debt Funds Management LLC, a business unit of GSO Capital Partners LP (“GSO”), which is an affiliate of The Blackstone Group L.P. (NYSE: BX, “Blackstone”), today announced that after receiving the requisite consents and ratings confirmations it has completed the initial closing under the previously announced transaction to acquire from Callidus Capital Management LLC (“Callidus”) the Collateral Management Agreements for all nine CDO and CLO funds currently managed by Callidus. Callidus is a portfolio company of Allied Capital Corporation (NYSE: ALD). The funds invest primarily in leveraged loans and high yield bonds. Total assets within the funds subject to this initial closing are approximately $3.1 billion. The purchase price was not disclosed.
About The Blackstone Group and GSO Capital Partners
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our credit business, GSO Capital Partners LP, with over $24 billion of assets under management, is one of the largest credit-oriented alternative asset managers in the world and a major participant in leveraged finance. GSO specializes in collateralized loan obligation vehicles (CLOs) and credit-oriented funds, which include leveraged loans, special situations, mezzanine, distressed, secondary market and rescue financing credit strategies. Blackstone’s other alternative asset management businesses include the management of private equity funds, real estate funds, funds of hedge funds, and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.