Bennett Goodman to Retire from Blackstone
August 29 2019 - 8:15AM
Business Wire
Remains Chairman of Blackstone’s Business
Development Company and Will Become a Senior Advisor
Blackstone (NYSE:BX) today announced that Bennett Goodman,
Co-Founder of GSO Capital Partners LP (“GSO”), intends to step down
from his full time role with the firm, and the Board of Directors,
at the end of the year. He will remain Chairman of GSO’s Business
Development Company (“BDC”) 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.
Mr. Goodman, 62, co-founded GSO in 2005 and led the sale of the
firm to Blackstone in 2008. Today, Blackstone has one of the
largest, most diversified corporate credit-oriented alternative
asset management businesses in the world, with strategies across
direct lending, mezzanine investments, rescue lending, distressed
debt, CLOs and various energy related strategies.
Blackstone Chairman, CEO and Co-Founder, Stephen A. Schwarzman
said: “I am grateful to Bennett for the tremendous contributions he
has made to the firm as an integral member of our management team
over the past twelve years. Under his leadership, we built a
world-class credit platform with industry leading returns and an
exceptional team to take the business forward. I’m looking forward
to continuing to work with Bennett as we scale our direct lending
business to its full potential.”
In his Senior Advisor role, Mr. Goodman will advise on all
aspects of the direct lending business. He will engage in 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.
Bennett Goodman said: “Having successfully transitioned the
business to Dwight and a strong leadership team over the past
several years, this is the right time for me to step back from the
day-to-day management of the organization. We’ve built an
exceptional credit franchise and I look forward to remaining
involved with Blackstone as it grows its direct lending
platform.”
Dwight Scott said: “I speak for the entire team when I say that
I feel so fortunate to have worked with and learned from Bennett
for all of these years and look forward to building on his legacy.
We are excited that he will remain a key part of the team and will
help drive one of our most important initiatives.”
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with $545 billion in assets under management, include
investment vehicles focused on private equity, real estate, public
debt and equity, growth equity, opportunistic, non-investment grade
credit, real assets and secondary funds, all on a global basis.
Further information is available at www.blackstone.com. Follow
Blackstone on Twitter @Blackstone.
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version on businesswire.com: https://www.businesswire.com/news/home/20190829005380/en/
Kate Holderness +1-646-482-8774
kate.holderness@blackstone.com
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