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Bennett Goodman retires from Blackstone

Friday, August 30, 2019
Bailey McCann, Opalesque New York: Bennett Goodman, Co-Founder of GSO Capital Partners will retire from his full time role with the firm at the end of the year. He will remain Chairman of GSO's Business Development Company and will serve as a Senior Advisor to the firm. Dwight Scott, who was appointed President of GSO in 2017, will continue to oversee the management of the business.

Goodman co-founded GSO in 2005 and led the sale of the firm to Blackstone in 2008. Goodman has been slowly transitioning the day-to-day running of GSO over to Scott for several years.

In a statement, Blackstone Chairman, CEO and Co-Founder, Stephen A. Schwarzman indicated that he will be working with Bennett on a broader plan to scale GSO's direct lending business. Goodman will advise on all aspects of the direct lending business including new capital formation and limited partner and investor relations. He will also participate in deal origination, investment committees and regulatory matters. Separate from his role with Blackstone, Mr. Goodman also plans to establish a new Goodman family office.

According to the Financial Times, Bennett's new position is part of a bid to keep him from going to one of GSO's rival credit firms - some of which were started by other GSO founders.

"We've built an exceptional credit franchise and I look forward to remaining involved with Blackstone as it grows its direct lending platform," Bennett Goodman said.

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