Advantage Insurance Holdings has selected GSO Capital Partners to serve as the firm’s exclusive portfolio advisor.
GSO—the credit investment affiliate of The Blackstone Group—will be responsible for deploying the capital and surplus of Advantage’s licensed insurance subsidiaries into secured bank loans, collateralised loan obligations and other corporate credit investments.
The Advantage portfolios will be managed by GSO’s London-based affiliate, GSO Capital Partners International.
Walter Keenan, the newly appointed president and CEO of Advantage, said: “We are extremely pleased that GSO has partnered with Advantage to deliver GSO’s loan investing expertise to the growing market for customised insurance products.”
“With our new GSO partnership, Advantage’s clients and shareholders will benefit from the access GSO provides to senior secured, floating-rate loans and collateralised loan obligations that have historically been held by banks and large institutional investors.”
Dan Smith, senior managing director of GSO, added: “The GSO team is excited about applying our credit investing skills to Advantage’s insurance-related investments, and we look forward to a long and productive partnership with Keenan and the Advantage team.”
