GSO Capital Partners announced Monday the final closing of GSO Capital Opportunities Fund III at $6.5 billion, hitting its hard cap.
The mezzanine debt fund will seek to invest across a range of sectors and geographies, focusing in particular on U.S. and European opportunities, said a GSO news release. Predecessor fund GSO Capital Opportunities Fund II closed at $4 billion in 2012.
Investors in the latest fund include the $128.2 billion Texas Teacher Retirement System, Austin; $102 billion State of Wisconsin Investment Board, Madison; $60.3 billion Michigan Retirement Systems, East Lansing; $30.8 billion Indiana Public Retirement System, Indianapolis; $24.3 billion Texas Municipal Retirement System, Austin; $20.9 billion San Francisco City & County Employees' Retirement System; and $16.6 billion Louisiana Teachers’ Retirement System, Baton Rouge.
GSO is the credit division of Blackstone Group. A GSO official was not immediately available for comment.