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New York–based GSO Capital Partners, whose name derives from the last name of its founders Bennett Goodman, J. Albert (Tripp) Smith III and Douglas Ostrover, spun out of Credit Suisse First Boston in 2005 to manage CSFB's $1 billion Credit Opportunities Fund. Eventually the firm expanded its repertoire and financed non-investment-grade cyclical companies and became a lender of last resort following the financial crisis, when sovereign wealth funds, endowments and pension funds with strong balance sheets filled the void left by banks. Today its $10.44 billion hedge fund business is a small part of the $75 billion total managed by the firm…
