Remains Chairman of Blackstone’s Business Development Company and Will Become a Senior Advisor
New York, August 29, 2019 – Blackstone (NYSE:BX) today announced that Bennett Goodman, Co-Founder of GSO Capital Partners LP (“GSO”), intends to step down from his full time role with the firm, and the Board of Directors, at the end of the year. He will remain Chairman of GSO’s Business Development Company (“BDC”) and will serve as a Senior Advisor to the firm. Dwight Scott, who was appointed President of GSO in 2017, will continue to oversee the management of the business.
Mr. Goodman, 62, co-founded GSO in 2005 and led the sale of the firm to Blackstone in 2008. Today, Blackstone has one of the largest, most diversified corporate credit-oriented alternative asset management businesses in the world, with strategies across direct lending, mezzanine investments, rescue lending, distressed debt, CLOs and various energy related strategies.
Blackstone Chairman, CEO and Co-Founder, Stephen A. Schwarzman said: “I am grateful to Bennett for the tremendous contributions he has made to the firm as an integral member of our management team over the past twelve years. Under his leadership, we built a world-class credit platform with industry leading returns and an exceptional team to take the business forward. I’m looking forward to continuing to work with Bennett as we scale our direct lending business to its full potential.”
In his Senior Advisor role, Mr. Goodman will advise on all aspects of the direct lending business. He will engage in new capital formation and limited partner and investor relations. He will also participate in deal origination, investment committees and regulatory matters. Separate from his role with Blackstone, Mr. Goodman also plans to establish a new Goodman family office.
Bennett Goodman said: “Having successfully transitioned the business to Dwight and a strong leadership team over the past several years, this is the right time for me to step back from the day-to-day management of the organization. We’ve built an exceptional credit franchise and I look forward to remaining involved with Blackstone as it grows its direct lending platform.”
Dwight Scott said: “I speak for the entire team when I say that I feel so fortunate to have worked with and learned from Bennett for all of these years and look forward to building on his legacy. We are excited that he will remain a key part of the team and will help drive one of our most important initiatives.”
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $545 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.