Inside the drama at Blackstone's $129 billion credit division

Blackstone's acquisition in 2008 of credit-investing platform GSO has been a massive success, with assets growing from $10 billion to nearly $130 billion today.

Inside the drama at Blackstone's $129 billion credit division that led to an exodus in distressed trading Blackstone's acquisition in 2008 of credit-investing platform GSO has been a massive success, with assets growing from $10 billion to nearly $130 billion today. But the absorption of GSO wasn't entirely smooth, with two distinctly separate cultures that sometimes clashed — especially as it pertained to its distressed-investing unit. The distressed-credit group in particular featured a slew of all-star investors, but it also created PR black eyes for the firm and mixed-performance over the years. Many of the firm's top distressed traders and analysts left amid the turmoil. Business Insider tracked the firm's 11 top distressed-investing alumni who joined shops like Ares and Angelo Gordon and are now helping them go bargain hunting during the downturn. Read Now → Email sent to: ipat39@gmail.com   |   Unsubscribe Terms of Service   |   Privacy Policy © 2019 Insider Inc. 1 Liberty Plaza, New York, NY 10006