GSO Capital Partners LP (“GSO”), the global credit platform of The Blackstone Group, has acquired Harbourmaster Capital, a leading European leveraged loan manager which manages and advises on approximately EUR8 billion (USD11 billion) of assets.
The Harbourmaster Capital Dublin-based team will continue to support the Harbourmaster funds, and will form a combined platform with GSO's existing European leveraged loan business to develop new European focused funds for their global investor base. The combined European leveraged loan platform will have approximately EUR11.5 billion (USD15.5 billion) in assets under management supported by a combined team of 40 professionals in both Dublin and London.
The acquisition makes GSO one of the largest leveraged loan investors in Europe as well as the United States, thereby enhancing its global scale. In addition to leveraged loans, GSO also manages mezzanine, distressed and special situations investment funds that are active in the European credit markets.
Bennett Goodman (pictured), Senior Managing Director and Co-Founder of GSO commented on the transaction: "Harbourmaster Capital is widely recognised as a market leader in Europe, an extremely well managed firm whose investment style and philosophy is completely consistent with ours. By merging our European platforms, we are creating one of the largest alternative managers in Europe, strategically positioning us to capitalise on the growing number of investment opportunities in the European corporate credit markets.”
Dan Smith, Senior Managing Director of GSO, adds: “The combined GSO and Harbourmaster Capital European leveraged loan business will be overseen by Debra Anderson, Alan Kerr and Mark Moffat, a very seasoned and talented team of investment professionals which we believe positions us for continued success in Europe.”