Advantage Insurance Holdings has entered into a long-term agreement with GSO Capital Partners, which will serve as Advantage’s exclusive portfolio adviser.
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.
“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,” said Walter Keenan, CEO of Advantage. “With our new GSO partnership, Advantage’s clients and shareholders will benefit from the access GSO provides to senior secured, floating-rate loans and CLOs that have historically been held by banks and large institutional investors.”
The Advantage portfolios will be managed by GSO’s London based affiliate, GSO Capital Partners International LLP, and specifically by Mark Moffat.
Mr. Moffat is a senior managing director of GSO, and also serves as the primary portfolio manager for another GSO managed product that holds a diversified portfolio of CLO investments.