Goldman Banker to Join New Fund With Private-Equity Executives
February 04 2016 - 7:16PM
Dow Jones News
By Justin Baer and Liz Hoffman
A senior Goldman Sachs Group Inc. banker is joining forces with
two private-equity veterans to form a new credit fund, people
familiar with the matter said.
Craig Packer, Goldman's co-head of leveraged finance in the
Americas, will leave the Wall Street firm to work with Marc
Lipschultz, head of energy investments at KKR & Co. LP, and
Doug Ostrover, who helped found GSO, a credit-investment firm now
owned by Blackstone Group.
The new venture, called Owl Rock Capital, will be based in New
York. The launch of the fund was reported earlier, but not Mr.
Packer's role.
Mr. Packer joined Goldman in 2006 and was named a partner two
years later. On Wednesday, the firm's top investment-banking
executives sent a memorandum to employees announcing Mr. Packer's
decision to retire.
Mr. Lipschultz is himself a Goldman alumnus.
Write to Justin Baer at justin.baer@wsj.com and Liz Hoffman at
liz.hoffman@wsj.com
(END) Dow Jones Newswires
February 04, 2016 19:01 ET (00:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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