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The “O” in GSO

by AOG Wealth Management

Doug Ostrover & Fred BaerenzLast week Jim Ortlip and I attended a two day due diligence meeting in Dallas Texas.  The meeting was hosted by Franklin Square Investment Corporation, the sponsor company for a series of private debt Business Development Companies (BDCs).  I am pictured with Doug Ostrover, one of the founders of GSO, and one of the primary architects and strategists for the Franklin Square offerings. We recently issued an announcement that on April 16, 2014, Franklin Square’s first non-traded BDC will list on the New York Stock Exchange the ticker symbol “FSIC”.  Once completed, this will be the first ever public listing of a (formerly) non-traded BDC on a public stock exchange.

The Franklin Square funds are sub-advised by GSO/ Blackstone.  GSO was founded in 2005 by Bennett Goodman, Tripp Smith and Doug Ostrover.  They had previously worked together at the finance firms Donaldson, Lufkin & Jenrette and Credit Suisse First Boston.  The Blackstone Group manages private equity and alternative investments for institutional investors and sovereign wealth funds.  Blackstone acquired GSO in 2008 to serve as their private debt arm to compliment the private equity division.  This will be a week full of achievement as we track the first week of trading following the successful listing of the ARC Health Care REIT last week, and the expected listing of both Franklin Square and the ARC New York Recovery REIT!

Category: Blog