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GSO Capital Partners
Blackstone Credit, formerly known as GSO Capital Partners is an American hedge fund and the credit investment arm of The Blackstone Group. GSO is one of the largest credit-oriented alternative asset managers in the world and a major participant in the leveraged finance marketplace. The firm invests across a variety of credit oriented strategies and products including collateralized loan obligation vehicles investing in secured loans, hedge funds focused on special situations investments, mezzanine debt funds and private equity funds focused on rescue financing. The firm, which was founded in 2005, is headquartered in New York City with offices in London, Dublin, and Houston, Texas. The firm is named for its three founding partners Bennett Goodman, Tripp Smith, and Doug Ostrover who had previously worked together at Donaldson, Lufkin & Jenrette and later Credit Suisse First Boston. As of 2018, GSO manages approximately $140 billion of assets and operates as the credit-focused su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GSO Capital Partners Logo
GSO may refer to: Organizations * GCC Standardization Organization, of the Gulf Cooperation Council * General Statistics Office of Vietnam * Golden State Overnight, former name of American logistics company GLS-US * Government Shipping Office, of the Government of Pakistan * Grassroots Support Organization * GSO Capital Partners, an American asset management firm Orchestras * Gamer Symphony Orchestra at the University of Maryland, US * Gothenburg Symphony Orchestra, Sweden * Greenville Symphony Orchestra, South Carolina, US * Guangzhou Symphony Orchestra, China Science and mathematics * Gadolinium oxyorthosilicate, a type of scintillating inorganic crystal * Generic segmentation offload, in computer networking * Geosynchronous orbit, an orbit around Earth of a satellite * Gram-Schmidt orthogonalization, in mathematics * GSO projection, in superstring theory Other uses * General Staff Officer * GSO Stadium, a former stadium in Limassol, Cyprus * Piedmont Triad International Air ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Situations
A special situation in finance is an atypical event which has the high potential to alter the future course of a business, materially impacting the company's value. The connotation of the event may be both positive (for example, merger or acquisition) and negative (conflict, distress, etc.) The notion also covers corporate restructuring and corporate transactions, such as spin-offs, share repurchases, security issuance/ repurchase, asset sales, or other catalyst-oriented situations. Further, a shareholders conflict is also considered a special situation. Seeking for and investing in special situations is a strategy pursued by a number of investors. To take advantage of a special situation, a hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments. Definition There is also a definition of special situation by Benjamin Graham: Classes of special situations In his well-known book ''Security ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collateralized Loan Obligation
Collateralized loan obligations (CLOs) are a form of securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches. A CLO is a type of collateralized debt obligation. Leveraging Each class of owner may receive larger yields in exchange for being the first in line to risk losing money if the businesses fail to repay the loans that a CLO has purchased. The actual loans used are multimillion-dollar loans to either privately or publicly owned enterprises. Known as syndicated loans and originated by a lead bank with the intention of the majority of the loans being immediately "syndicated", or sold, to the collateralized loan obligation owners. The lead bank retains a minority amount of highest quality tranche of the loan while usually maintaining "agent" responsibilities representing the interests of the syndicate of CLOs as well as servicing the loan payments to the syndicat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secured Loan
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral, and if the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally loaned to the borrower. An example is the foreclosure of a home. From the creditor's perspective, that is a category of debt in which a lender has been granted a portion of the bundle of rights to specified property. If the sale of the collateral does not raise enough money to pay off the debt, the creditor can often obtain a deficiency judgment against the borrower for the remaining amount. The opposite of secured debt/loan is unsecured debt, which is not connected to any specific piece of property. Instead, the creditor may satisfy the debt only against the borrower, rather than the bor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hovnanian Enterprises
Hovnanian Enterprises, Inc. is a United States real estate company which is involved in every aspect of marketing homes, including design, construction and sales. The company works with individual detached housing as well as higher-occupancy dwellings, including townhouses, condominiums and retirement homes. In most cases, the company acquires and develops the land on which these developments are built, but in some geographic regions, Hovnanian offers to build their proprietary house designs on private land. The company consists of two operating groups, homebuilding and financial services. Despite some recent financial difficulties due to the 2008–2009 recession and financial crisis, Hovnanian Enterprises remains the eleventh largest American homebuilder and is one of the largest homebuilders in New Jersey, as of December 2018. Company operations Hovnanian Enterprises, Inc. has delivered in excess of 336,000 houses since incorporation including 5,831 homes in fiscal 2018, with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earnout
Earnout or earn-out refers to a pricing structure in mergers and acquisitions where the sellers must "earn" part of the purchase price based on the performance of the business following the acquisition. Description Earnouts are often employed when the buyer(s) and seller(s) disagree about the expected growth and future performance of the target company. A typical earnout takes place over a three to five-year period after closing of the acquisition and may involve anywhere from ten to fifty percent of the purchase price being deferred over that period. Buyers usually value companies based on historical performance while sellers may weight more heavily projections about higher growth prospects. With an earnout the seller's shareholders are paid an additional sum if some predefined performance targets are met. (See Contingent value rights, having a similar function.) Earnouts are popular among private equity investors, who do not necessarily have the expertise to run a target business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merrill Lynch
Merrill (officially Merrill Lynch, Pierce, Fenner & Smith Incorporated), previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment banking arm, both firms engage in prime brokerage and broker-dealer activities. The firm is headquartered in New York City, and once occupied the entire 34 stories of 250 Vesey Street, part of the Brookfield Place (New York City), Brookfield Place complex in Manhattan. Merrill employs over 14,000 financial analysts and manages $2.3 trillion in client assets. The company also operates Merrill Edge, an electronic trading platform. Prior to 2009, the company was publicly owned and traded on the New York Stock Exchange. Merrill Lynch & Co. agreed to be acquired by Bank of America on September 14, 2008, at the height of the financial crisis of 2007–2008, the same weekend that Lehman Brothers was Bankruptcy of Lehman Brothers, allowed to fail. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Suisse First Boston
Credit Suisse First Boston (also known as CSFB and CS First Boston) is the investment banking affiliate of Credit Suisse headquartered in New York. The company was created by the merger of First Boston, First Boston Corporation and Credit Suisse, Credit Suisse Group in 1988 and is active in investment banking, capital markets and financial services. In 2006, Credit Suisse reorganized and merged CS First Boston into the parent company and retired use of the "First Boston" brand. In 2022 as part of a major restructuring, Credit Suisse began the process of spinning out the investment bank into an independent company and revived the brand. History Credit Suisse / First Boston 50 / 50 Joint Venture (1978–1988) ''Main Article First Boston'' In 1978, Credit Suisse and First Boston Corporation formed a London-based 50-50 investment banking joint venture called ''Financière Crédit Suisse-First Boston''. This joint venture later became the operating name of Credit Suisse's investment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette (DLJ) was a U.S. investment bank founded by William H. Donaldson, Richard Jenrette, and Dan Lufkin in 1959. Its businesses included securities underwriting; sales and trading; investment and merchant banking; financial advisory services; investment research; venture capital; correspondent brokerage services; online, interactive brokerage services; and asset management. The firm was headquartered at 277 Park Avenue in New York, New York and employed about 11,300 when it was acquired in August 2000, by Credit Suisse for $11.5 billion. History Donaldson, Lufkin and Jenrette founded the firm on the principle that no one else on Wall Street was doing high quality independent corporate research. They centered the firm around this notion and grew substantially. As research became more of a commodity throughout the 1980s and 1990s, they expanded into other businesses and grew dominant in high yield fixed income, or so-called, "junk bond" securities. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Houston, Texas
Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in 2020. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat and largest city of Harris County and the principal city of the Greater Houston metropolitan area, which is the fifth-most populous metropolitan statistical area in the United States and the second-most populous in Texas after Dallas–Fort Worth. Houston is the southeast anchor of the greater megaregion known as the Texas Triangle. Comprising a land area of , Houston is the ninth-most expansive city in the United States (including consolidated city-counties). It is the largest city in the United States by total area whose government is not consolidated with a county, parish, or borough. Though primarily in Harris County, small portions of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dublin
Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of the Wicklow Mountains range. At the 2016 census of Ireland, 2016 census it had a population of 1,173,179, while the preliminary results of the 2022 census of Ireland, 2022 census recorded that County Dublin as a whole had a population of 1,450,701, and that the population of the Greater Dublin Area was over 2 million, or roughly 40% of the Republic of Ireland's total population. A settlement was established in the area by the Gaels during or before the 7th century, followed by the Vikings. As the Kings of Dublin, Kingdom of Dublin grew, it became Ireland's principal settlement by the 12th century Anglo-Norman invasion of Ireland. The city expanded rapidly from the 17th century and was briefly the second largest in the British Empire and sixt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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