Intesa Sanpaolo and GSO Capital Partners to Launch Joint Italian Direct Lending Initiative
March 30 2015 - 9:39AM
Business Wire
Intesa Sanpaolo and GSO Capital Partners, the credit investment
arm of Blackstone, have entered into a strategic partnership to
provide an alternative source of funding to Italian middle market
businesses. The partnership will significantly expand the
availability of private debt capital in Italy, enabled by
favourable recent changes in the Italian legal and regulatory
framework.
The collaboration will have a focus on both existing corporate
clients of Intesa Sanpaolo as well as the broader Italian middle
market corporate universe. The private debt capital will be
provided to sub-investment grade companies for a variety of
purposes ranging from growth capital, acquisition financing, to
opportunistic refinancings. The private debt capital offering via
this partnership will serve to complement the existing offerings of
the domestic banking system and expand financing options for the
Italian middle market corporate, where applicable.
The partnership of Intesa Sanpaolo and GSO Capital Partners /
Blackstone brings together two highly reputable institutions with a
long track record of European credit investing, and has resulted
from the long standing existing relationship between the two
firms.
Giovanni Gilli, Head of Capital Light Bank, Intesa Sanpaolo,
said: “Intesa Sanpaolo considers the partnership with
GSO/Blackstone, an institution with a strong expertise and
reputation in European private credit asset class, a significant
opportunity to support its corporate clients. This brings an
additional channel of long term specialized financing resources as
a way to further enhance our dialogue with pre-existing and new
corporate relationships.”
Tripp Smith, co-founder of GSO Capital Partners, said: "GSO is
excited to partner with Intesa Sanpaolo, with its long heritage and
successful long-term track record in Italian lending. It is a
unique opportunity for us to access the Italian corporate
mid-market given Intesa Sanpaolo’s incumbency and deep
relationships across all sectors. Our ability to provide flexible
and long-term private debt capital via this partnership will
differentiate our two firms, and ultimately benefit the Italian
corporate borrower.”
About Intesa Sanpaolo:
Intesa Sanpaolo is among the top banking groups in the euro
zone, with a market capitalisation of over 50 billion
euro.
Intesa Sanpaolo is the leader in Italy in all business areas.
The Group offers its services to 11.1 million customers through a
network of approximately 4,500 branches well distributed throughout
the country.
Intesa Sanpaolo has a selected presence in Central Eastern
Europe, Middle Eastern and North African areas with approximately
1,400 branches and 8.4 million customers belonging to the Group's
subsidiaries operating in retail and commercial banking in 12
countries.
Moreover, an international network of specialists in support of
corporate customers spreads across 29 countries, in particular
in the Middle East and North Africa and in those areas where
Italian companies are most active, such as the United States,
Russia, China and India.
About GSO:
GSO Capital Partners LP is the global credit and distressed
investment platform of Blackstone. With approximately $73 billion
of assets under management, GSO is one of the largest alternative
managers in the world focused on the leveraged-finance, or
non-investment grade related, marketplace. GSO seeks to generate
attractive risk-adjusted returns in its business by investing in a
broad array of strategies including mezzanine debt, distressed
investing, leveraged loans and other special-situation strategies.
Its funds are major providers of credit for small and middle-market
companies and they also advance rescue financing to help distressed
companies.
Media:BlackstoneAndrew Dowler, +44 (0)20 7451
4275orIntesa SanpaoloMedia Relations - Corporate &
Investment Banking and International Media+39 02 87963805 / +39 02
87963119
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