Transcript IPAA Private Capital Conference January 18, 2007
IPAA Private Capital Conference January 18, 2007
GSO Capital Partners Overview
Asset Under Management
Total Assets Under Management of $5.7 billion • $3.3 billion in Fund assets • $2.4 billion in CLO Debt Funds
Investment Products
Invest across the capital structure • Leveraged Loans • High Yield Bonds • 2 nd Lien • Mezzanine Securities • Distressed Lending • Private Equity
“Side Pocket” Structure allows for Private Investments with Long Durations
Up to 30% of Fund assets
Significant Organizational Investment with 100+ professionals
Offices in New York City, Houston and London Senior Professionals with deep product and industry expertise
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Why GSO Capital?
Wide investment latitude: $25mm - $400+ mm One stop solution for the entire capital structure Institutional knowledge of wide spectrum of industries and companies Built and managed the dominant Leveraged Finance group on Wall Street for over a decade Unsurpassed track record in providing innovative capital structure solutions Speed to investment decision
Small, nimble GSO diligence teams Expedited GSO Committee process
Certainty of closure
Certainty of pricing Certainty of committed capital
Speed to close
No ratings No roadshow No syndication
“Partner of Choice” to the LBO and Corporate Communities
Ability to co-invest in private equity without requiring control Deep relationships and extensive global sourcing network
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Energy/Power Professionals
Founding Members
Bennett Goodman Tripp Smith Doug Ostrover
Research / Trading Trading James Didden
Doug Logigian Alan Milstein
Industry Vertical Jason New Houston Dwight Scott
James Bennett David Finan Dan Westcott
Origination London Peter Bacon
Ed Goldstein Mirza Beg
Energy
Omar Jama Rob Horn
Chemicals
Omar Jama Valerie Kritsberg
Utilities / Power
Jason New Rob Horn
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GSO Originated Energy/Power Investments
Issuer
1/10/07
MCV Power Partners
11/21/06 $50 mm ---
Caledonia Date Closed Commitment 1 st Lien 2 nd Lien High Yield Mezzanine / Holdco Private Equity Distressed Financing Controlling Shareholder
7/27/06 $78 mm GSO GSO / Rockland Capital Tenaska Power Fund 7/18/06 $47 mm Public Company 3/27/06 $25 mm 12/13/05 $100 mm Natural Gas Partners Bruckman, Rosser, Sherrill & Co.
Ontelaunee
12/7/05; 5/5/06 $125 mm; $150 mm LS Power
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GSO E&P Recent Debt Participation
Issuer Date Closed Transaction Size 1 st Lien 2 nd Lien High Yield
11/22/06 $ 850 mm 9/29/06 400 mm 8/30/06 4/25/06 150 mm 500 mm 10/15/05 175 mm 7/21/05 225 mm 4/14/05 525 mm
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