GSO names lead PM on liquid funds

Robert Zable, a managing director with GSO Capital Partners, will become the lead portfolio manager for a suite of liquid credit funds at GSO that have about $1.3 billion in total assets.  

Robert Zable, a managing director with GSO Capital Partners, has been named the lead portfolio manager for three of Blackstone/GSO’s liquid credit funds. The funds include the Blackstone/GSO Senior Floating Rate Term Fund (BSL), the Blackstone/GSO Long-Short Credit Income Fund (BGX) and the Blackstone/GSO Strategic Credit Fund (BGB). Zable takes over the reins from Lee Shaiman, who is retiring. The funds have about $1.3 billion in aggregate assets.

Zable is also the senior portfolio manager for GSO’s US CLOs and high-yield separately managed accounts. 

Before joining GSO in 2007, Zable was a vice president at FriedbergMilstein, where he was responsible for credit opportunity investments and junior capital origination and execution. Prior to that, Zable was a principal with Abacus Advisors Group, a restructuring and distressed investment firm.

Shaiman will retire following the transition of his responsibilities to Zable on or before 30 September. Gordon McKemie, who has served as portfolio manager since the second quarter of 2015, will remain a portfolio manager of the funds. 

“On behalf of GSO, I would like to thank Lee for his many contributions to the growth and success of the business,” said Dan Smith, senior managing director of GSO. 

The funds are all publicly traded on the New York Stock Exchange. The senior floating rate fund has about $273.7 million in assets, the long-short credit fund handles approximately $224 million and the strategic credit fund oversees $788.9 million, according to these funds’ fact sheets on Blackstone’s website. 

GSO Capital Partners, which is owned by The Blackstone Group, has about $81 billion in assets under management across liquid and private debt funds, separate accounts, CLOs and credit hedge funds. The firm invests in an array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. 

Blackstone overall has over $330 billion in assets under management across private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds.