Blackstone/GSO FLoating Rate High Income Fund
BGF
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 345 Park Avenue, 31st Floor New York City United States of America 10154
- IPO Date
- Apr 25, 2013
- CIK
- 0001544206
- Website
- blackstone.com
- Similar Companies
- Business
- Blackstone/GSO Floating Rate High Income Fund (BGF) is a closed-end fund managed by GSO / Blackstone Debt Funds Management LLC, a credit-focused business unit of Blackstone Inc., that seeks high current income through investments primarily in floating rate instruments rated below investment grade. The Fund invests at least 80% of its managed assets in floating rate senior loans, notes, and bonds issued by U.S. and non-U.S. corporate issuers, including first- and second-lien secured loans and high-yield corporate debt securities; it may allocate up to 20% to structured products such as collateralized loan obligations, derivatives including credit derivatives, warrants or equity securities incidental to loan purchases, and fixed-rate instruments. Targeting diversified sectors with a research-driven credit approach, the Fund benchmarks performance against a composite of the S&P/LSTA Leveraged Loan Index and Barclays US High Yield Index, employs leverage up to 33 1/3% of managed assets through borrowings, and trades on the New York Stock Exchange under the ticker BGF. Headquartered in New York, New York, the Fund operates within Blackstone's global credit platform, which traces its roots to GSO Capital Partners founded in 2005 and acquired by Blackstone in 2008 for approximately $1 billion, subsequently rebranded as Blackstone Credit in 2020 with over $145 billion in assets under management across liquid credit, alternative investments, and more than 1,000 corporate issuers. The Fund's investments span U.S. dollar and non-U.S. dollar denominated securities worldwide, focusing on institutional-scale exposure to the senior loan market for individual investors, with low correlation to traditional fixed income for portfolio diversification. In a significant recent development, a related Blackstone/GSO interval fund, the Blackstone Floating Rate Enhanced Income Fund (BGFLX), entered liquidation in June 2024, with the Board declaring special liquidating dividends—including $21.42 per share for Class I on June 13, 2024—and completing full capital return to shareholders by mid-August 2024 after asset liquidation, citing needs for greater scale to sustain cost-effectiveness. No specific recent partnerships, funding rounds, acquisitions, or new product launches were announced for BGF itself in 2024-2025, amid Blackstone Credit's broader activities like closing U.S. CLOs and expanding direct lending deployments. The Fund continues to emphasize floating rate strategies amid volatile credit markets, with risks including high credit and liquidity exposure inherent to below-investment-grade loans.