David Flannery Joins GSO Capital Partners in New York

GSO Capital Partners, a division of Blackstone (NYSE: BX), today announced that David Flannery has joined the firm as a Senior Managing Director focusing on distressed strategies in both private and public markets. He will be based in New York and brings to Blackstone his extensive experience across leveraged finance.

With nearly 25 years of industry experience, Mr. Flannery joins Blackstone from Anchorage Capital Group, where he focused on illiquid credit opportunities and CLOs. Prior to joining Anchorage, he worked at Bank of America Merrill Lynch (“BAML”) for five years where he held several global group head roles including Chief Risk Officer of Global Banking & Markets and Global Head of Leveraged Finance. Prior to joining BAML, David was the Global Head of Leveraged Finance at Deutsche Bank. Mr. Flannery began his career at Bankers Trust Company.

“We are thrilled to welcome David to our team,” said Bennett Goodman, Senior Managing Director and Co-Founder of GSO. “As we continue to see expanding opportunities in the distressed arena, David’s deep industry knowledge and proven leadership in leveraged finance will be a meaningful addition to the team.”

Mr. Flannery added, “I am delighted to join the GSO team at Blackstone. They are recognized as a true leader in the space and I look forward to working closely with the team as we continue to explore and pursue growing opportunities in the sector.”

About GSO

GSO Capital Partners LP is the global credit investment platform of Blackstone. With approximately $79 billion of assets under management, 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 they also advance rescue financing to help distressed companies.

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $330 billion in assets under management, 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.

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BlackstonePaula Chirhart, [e-mail]