Head of GSO Advantage takes new role within Blackstone – exclusive

GSO Capital Partners’ head of its GSO Advantage programme has moved to a new role within Blackstone, which has hired a former Hudson Advisors executive to fill the vacated role, according to a source familiar with the matter.

Managing director Kate Rubenstein previously led the Advantage programme, an effort that helps its portfolio companies become more efficient with its expenditures, but has moved to a position in which she works with Blackstone’s broader portfolio operations. New York-based GSO has hired Bradley Boggess to fill the vacated role, this person said.

A spokeswoman for Blackstone’s credit arm confirmed the personnel moves but declined to provide comment.

Before joining GSO in 2015, Rubenstein worked at GE Capital for a decade where she worked on originating senior secured loans in corporate finance as well as finding equipment finance activities, according to her company biography. Over 100 GSO portfolio companies have accessed the Advantage program.

Boggess was previously the chief administrative officer at Hudson and before that the leader of its private equity investments within the firm’s asset management division, according to his biography. He previously spent time at AlixPartners as a management consultant and turnaround and restructuring advisor, his LinkedIn profile showed.

Blackstone has seen some significant personnel shifts this year, as Tripp Smith, one of GSO’s co-founders, will depart the firm at the end of the month, leaving Bennett Goodman as the only remaining person who launched that business, which Blackstone acquired 10 years ago. The “O” in GSO, Doug Ostrover, left the firm in 2016 to launch Owl Rock Capital Partners with Goldman Sachs alumnus Craig Packer and Marc Lipschultz, a former KKR division head.

In addition, Blackstone outlined the next generation of leadership in February when it named former global head of real estate Jonathan Gray as president and chief operating officer of the firm, who inherited control of the day-to-day goings-on from Tony James, the previous holder of those titles. Gray joined Blackstone straight out of college, joining its private equity division before helping launch its real estate arm.

Blackstone managed $449.6 billion, some $140 billion of which was attributable to GSO, as of 31 March.