Effective 17 October, 2011 GSC Group Limited has joined the Black Diamond family of companies and will now operate under the name Black Diamond Capital Management Limited.
Black Diamond's European office will be headed by Nick Petrusic, who, along with the other London based team members, will oversee its European Mezzanine and European CLO businesses.
"We are excited to have an experienced team with a long track record based in London, and look forward to continuing to grow those businesses as new opportunities present themselves in the European markets", says Steve Deckoff, Managing Principal at Black Diamond.
"We look forward to continuing our work in managing the current funds and bringing to market new funds in the future under the Black Diamond umbrella. Black Diamond has a long history of investing in Europe and has a well developed infrastructure that we can leverage in order to bring market leading products to investors," says Petrusic, Senior Managing Director and Head of the London office.
Established in 2000, the UK-based business acquired from GSC Group has been a significant investor in the European leverage market, investing in first and second lien loans through its European CLO funds and arranging and investing primarily in subordinated mezzanine loans through it's European Mezzanine Funds.