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Simpson Thacher is acting as counsel to GSO Capital Partners LP (“GSO”), the global credit platform of The Blackstone Group L.P., in connection with its acquisition of Harbourmaster Capital, a leading European leveraged loan manager which manages and advises on approximately €8 billion ($11 billion) of assets. Harbourmaster Capital will form a combined platform with GSO's existing European leveraged loan business to develop new European focused funds for their global investor base. The combined European leveraged loan platform will have approximately €11.5 billion ($15.5 billion) in assets under management supported by a combined team of 40 professionals in both Dublin and London.

The transaction is expected to close in early 2012 following receipt of regulatory and certain third party approvals.

The Simpson Thacher team for the transaction includes Mike Wolfson, Dan Kwon and Anais Fritz (Corporate), John Hart and Meredith Jones (Tax) and Etienne Renaudeau (Antitrust).