Businesses

Distressed Debt
 
GSC’s Recovery Funds employ a control distressed debt investment strategy that targets companies which it believes are operationally sound, but are overburdened with high levels of debt. GSC typically focuses on securities that are either the most senior in the capital structure or have only a moderate level of debt senior to them. GSC's distressed debt investment team often assumes a leadership role in the consensual financial restructuring or bankruptcy process. The acquired debt securities often are converted into new “restructured” equity at a cost basis that GSC believes represents attractive acquisition valuations. Post-restructuring, GSC seeks to further enhance value as an active owner through various strategic and financial initiatives. GSC’s Recovery team has invested $1.98 billion in 99 distressed debt opportunities.

U.S. Corporate Debt
 
GSC is an experienced U.S. loan manager with ten CLOs under management. It has purchased over $14.5 billion of loans and high yield bonds. In addition, GSC has provided capital to more than 850 companies and over 250 sponsors. Two corporate CDOs (vintage 2000 and 2001) have liquidated, with an average IRR to income note holders of 12.9%.

GSC Investment Corp.
 
GSC Investment Corp. is a business development company externally managed by GSC Group that invests primarily in first and second lien term loans and mezzanine debt of private U.S. middle-market companies and high yield bonds. GSC Investment Corp. is traded on the New York Stock Exchange under the symbol "GNV.“ GNV maintains assets totaling $111.0 million, its NAV is $6.91 and market capitalization is $28.9 million.

European Corporate Debt
 
GSC is one of the larger CLO managers in Europe with five CLOs under management. The portfolios consist of predominately loans and some mezzanine securities. GSC has strong expertise and experience in credit analysis, diverse industries, all parts of capital structure and many legal jurisdictions in Europe.

European Mezzanine Lending
 
GSC’s corporate mezzanine lending team provides mezzanine lending in the form of subordinated debt and preferred equity to support financial sponsors, corporations and others seeking to finance leveraged buyouts, strategic acquisitions, growth strategies or recapitalizations in Europe.  This group, which includes 8 investment professionals, manages two funds.  Since 2000, this group has made 69 investments across 16 jurisdictions, 18 industries and 35 sponsors.