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GSO Diamond Portfolio Fund closes acquisition of 2.4 billion USD credit investment portfolio from NewStar Financial

First Published 27th December 2017

New York - GSO Diamond Portfolio Fund, a newly formed 950 million USD investment fund sponsored by GSO Capital Partners, the credit investment platform of Blackstone, has closed on the previously announced acquisition of approximately 2.4 billion USD in corporate loans and other credit investments from NewStar Financial.

Immediately following the sale of these assets to the Fund, NewStar was acquired by First Eagle Investment Management, a privately owned investment firm.

GSO said this will enable the Fund's investors to gain access to GSO's loan platform via a portfolio of first-lien loans to private equity sponsor backed companies. GSO has engaged First Eagle and the former NewStar team to assist in servicing the assets acquired by the Fund.