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Blackstone garners $6.5bn

The firm closes one of the world’s largest mezzanine funds.

GSO Capital Partners, the credit division of Blackstone, has closed GSO Capital Opportunities Fund III at its hardcap of $6.5 billion, making it one of the world’s largest mezzanine vehicles. The fund invests across a number of sectors and geographies, but will predominantly focus on the US and Europe.

Investors in the vehicle include the Texas Municipal Retirement System, the State of Wisconsin Investment Board, Massachusetts Pension Reserves Investment Management Board and the Michigan Department of Treasury.

GSO Capital Opportunities Fund II held a final close at $4.1 billion in March 2012.