Blackstone’s Dublin arm pays €30m dividend to parent firm

Credit unit of loans management firm reports 13% increase in pretax profits to €25m

Blackstone/GSO Debt Funds Management Europe Limited reported a 13 per cent increase in pretax profits last year. Photograph: Alan Betson
Blackstone/GSO Debt Funds Management Europe Limited reported a 13 per cent increase in pretax profits last year. Photograph: Alan Betson

A Dublin-based credit arm of Blackstone paid a €30 million interim dividend to its parent last year after profits at the company rose 13 per cent last year.

Blackstone/GSO Debt Funds Management Europe Limited, one of Europe's largest providers of management and advice in the bundled leverage loans industry, reported a 13 per cent increase in pretax profits last year to €25 million.

Assets under management, including so-called collateralised loan obligations, at the company rose to €4.1 billion from €3.1 billion in 2014.

It is the main part of the business created in Dublin through Blackstone/GSO’s purchase of Harbourmaster Capital Management in 2011 to boost its European loan holdings for an undisclosed sum.

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The company paid the dividend to its immediate parent Blackstone/GSO Debt Funds Europe (Luxembourg) which is ultimately owned by Blackstone Group, according to filings with the Company Registration OfficeJOE BRENNAN

Joe Brennan

Joe Brennan

Joe Brennan is Markets Correspondent of The Irish Times