Blackstone / GSO Long-Short Credit Income Fund Announces Change in Investment Guidelines
November 28 2016 - 9:00AM
Business Wire
Blackstone / GSO Long-Short Credit Income Fund (NYSE: BGX, the
“Fund”), announced that its Board of Trustees has approved a change
in the Fund’s investment guidelines. The change will increase the
Fund’s ability to invest in long investments while maintaining the
limit of the Fund’s short investments as a percentage of net
assets.
The new investment guidelines will not specifically limit the
Fund’s long investments. The Fund’s short positions, either
directly or through the use of derivatives, will continue to be
limited to up to 30% of the Fund’s net assets. These guidelines
will replace the Fund’s previous guidelines, which limited the
Fund’s long positions to 150% of the Fund’s net assets and the
Fund’s aggregate long and short positions to 160% of the Fund’s net
assets.
In considering the approval of the new investment guidelines,
the Fund’s Board of Trustees noted that the Fund’s exposure to long
investments will still be effectively limited by the leverage
limitations set forth in the Fund’s prospectus. Specifically, the
Fund’s total leverage and short sales exposure will not exceed 40%
of the Fund’s total assets (the equivalent of 67% of the Fund’s net
assets).
The above-described change in the Fund’s investment guidelines
is currently intended to take effect on January 3, 2017.
About The Blackstone Group and GSO Capital Partners
Blackstone is one of the world’s leading investment firms.
Blackstone seeks to create positive economic impact and long-term
value for its investors, the companies it invests in, and the
communities in which it works. The firm does this by using
extraordinary people and flexible capital to help companies solve
problems. Blackstone’s asset management businesses, with over $360
billion in assets under management as of September 30, 2016,
include investment vehicles focused on private equity, real estate,
public debt and equity, 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.
The Fund is advised by GSO / Blackstone Debt Funds Management
LLC, a wholly-owned subsidiary of GSO Capital Partners LP (“GSO”).
GSO is the global credit and distressed investment platform of
Blackstone. With approximately $89 billion of assets under
management as of September 30, 2016, GSO is one of the largest
alternative managers in the world focused on the leveraged-finance,
or non-investment grade related, marketplace. GSO seeks to generate
attractive risk-adjusted returns in its business by investing in a
broad array of strategies including mezzanine debt, distressed
investing, leveraged loans and other special-situation strategies.
Its funds are major providers of credit for small and middle-market
companies, and it also advances rescue financing to help distressed
companies.
Investors wishing to buy or sell shares need to place orders
through an intermediary or broker.
Contact the Fund at 1-877-299-1588 or visit the Fund’s
website at www.blackstone-gso.com for additional
information.
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Blackstone / GSO Long Short Credit Income FundJane Lee,
877-876-1121
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