Family Office
Founding Partner Of Blackstone's GSO To Create Family Office
A family office is being created by one of the co-founders of a unit of US private equity house Blackstone Group.
One of the three founders of a unit at private equity titan Blackstone Group is to leave the credit investment firm to create a family office.
Doug Ostrover will leave Blackstone Group’s GSO Capital Partners
unit but remain a senior advisor at US-based Blackstone, it said
in a statement last week. Ostrover was one of the founders
of GSO.
"The success of GSO as the leading alternative credit platform in
the market today is in no small measure the result of Doug's
creative thinking and energy," Bennett Goodman and Tripp Smith,
the unit's two other founders, said in the statement.
Blackstone bought GSO in 2008. The unit has expanded to oversee
$75 billion, making it one of the largest credit alternative
investment firms globally.
Before co-founding GSO in 2005, Ostrover was chairman of the leveraged finance group of CSFB.
