Blackstone arm buys loans firm

GSO Capital Partners, the global credit platform of US private equity giant Blackstone, has bought European leveraged loan manager Harbourmaster Capital for an undisclosed sum.

Harbourmaster manages and advises on €8bn (£6.96bn) of assets, lifting GSO’s loan platform to €11.5bn of assets under management.

The deal will help GSO to achieve its sought-after European growth and to create a balance with the US operations. Europe will now contribute between 40 and 45 per cent of GSO’s leverage loan platform.