Doug Ostrover, One of the Three Founders of Blackstone’s GSO, to Step Down from Firm
May 22 2015 - 11:00AM
Business Wire
Blackstone (NYSE:BX) today announced that Doug Ostrover will
step down as a Senior Managing Director of Blackstone and will
become a Senior Adviser to the firm. Mr. Ostrover was, along with
Bennett Goodman and Tripp Smith, one of the founders of GSO,
Blackstone’s alternative credit platform. Blackstone acquired GSO
in 2008 and it now has assets under management of $75 billion. Mr.
Ostrover intends to found a family office to invest capital and
work alongside management teams.
Bennett Goodman and Tripp Smith, the co-heads of GSO, said,
“Doug has been our great friend and colleague for the last 25
years. 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. While we will miss him as a
colleague, we are delighted that we will still have the benefit of
his advice and counsel as a Senior Adviser.”
Stephen A. Schwarzman, CEO, Chairman and Co-Founder of
Blackstone, added, “On behalf of all of us at the firm, I want to
thank Doug for his many contributions to Blackstone and GSO. He
leaves behind a deep bench of finance professionals at GSO, whom he
helped mentor and train over the years. I wish him well in the next
stage of his career and I am glad that he is keeping a continuing
affiliation with the firm.” Before co-founding GSO in 2005, Mr.
Ostrover was Chairman of the Leveraged Finance Group of CSFB. Mr.
Ostrover received a BA in Economics from the University of
Pennsylvania and an MBA from the Stern School of Business of New
York University.
About GSO
GSO Capital Partners LP is the global credit and distressed
investment platform of Blackstone. With approximately $75 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150522005574/en/
For BlackstonePeter Rose, 212-583-5871Rose@Blackstone.com
Blackstone (NYSE:BX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Apr 2023 to Apr 2024