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Merrill Lynch takes minority investment in GSO Capital Partners

Merrill Lynch has agreed to purchase a minority stake in GSO Capital Partners, a New York-based registered investment management firm and will invest capital in a number of GSO's strategies under an agreement whose financial terms have not been disclosed.

'GSO has a uniquely talented team of investment professionals who have extensive expertise in the leveraged finance marketplace,' says Merrill Lynch co-president Greg Fleming. 'We look forward to working together to grow their firm by utilising the global resources of Merrill Lynch.'

Says Bennett Goodman, senior managing partner of GSO: 'Merrill Lynch has world-class franchises in products and geographies that are very relevant to our investment strategies. We look forward to collaborating with them on future projects.'

According to Rohit D'Souza, head of global alternative investments and global head of equities at Merrill Lynch, the investment represents a continuation of the firm's strategy to invest in best-in-class alternative investment managers worldwide.

Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies with offices in 37 countries and territories and total client assets of approximately USD1.6trn. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes.

GSO, which was founded in July 2005 by Bennett Goodman, Tripp Smith and Doug Ostrover and has 115 employees, is a registered alternative investment manager with approximately USD8bn in assets under management and offices in New York, London, Houston and Los Angeles.

The firm invests in a broad array of public and private securities across multiple investment strategies, including leveraged loans, distressed investments, special situations, capital structure arbitrage, mezzanine securities and private equity on behalf of insurance companies, banks, pension funds, endowments, foundations, family offices and fund of funds.

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