GSC Group Completes Fundraising on euro 300 Million .........

21.06.2007 / 09:03 / Rubriek: Informatief / Organisatie: Gsc group

Gsc group

GSC Group Completes Fundraising on euro 300 Million European CDO Fund

NEW YORK, June 21 /PRNewswire/ --


- Innovative Product Attracts Broad Base of Investors

GSC Group, an alternative asset investment manager with more than US$24 billion of assets under management that focuses on complex, credit-driven strategies, today announced the successful completion of fundraising for its latest collateralized debt obligation fund, GSC European CDO V, PLC.

The new fund is a euro 300 million cash flow collateralized loan obligation transaction consisting mostly of European senior secured leveraged loans. The CLO has a target portfolio of 90 senior and 10 subordinated debt and will invest primarily in private equity-backed transactions. Unlike standard CLOs, the fund will utilize a lightly levered structure less sensitive to changes in the default rates and margins of its underlying assets. The transaction priced with Citigroup. GSC Group acts as the fund's collateral manager.

"The defensive characteristics of this new CDO, such as a less aggressive leverage structure and a lower percentage of subordinated debt allocation relative to what is used in a traditional CDO, are appealing to a broad base of investors," said Christine K. Vanden Beukel, Senior Managing Director, European Structured Products.

The new fund is part of GSC's Collateralized Corporate Debt Group. This Group manages in total US$7.1 billion in CDO assets of which 30 are European assets. Managing Director Peter Firth will be the principal portfolio manager of the new vehicle.

About GSC Group

GSC Group is a registered investment advisor with more than US$24 billion of assets under management. The firm specializes in credit-driven investing including corporate credit, equity and distressed investing and real estate. GSC Group, with over 170 employees, is headquartered in New Jersey and has offices in New York, London and Los Angeles. GSC's investors include both institutional investors and substantial net worth individuals seeking sophisticated and attractive alternative investing opportunities. For more information about the firm, please visit www.gsc.com.

Web site: www.gsc.com

Contact:

Carl J. Crosetto of GSC Group, +1-973-437-1007; or Roland Tomforde of Broadgate Consultants, LLC, +1-212-232-2222, for GSC Group