Blackstone’s Doug Ostrover will step down from the role of the firm’s senior managing director and will become senior advisor to the firm, and plans to set up a family office to invest capital and work alongside management teams.
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Ostrover, alongside Bennett Goodman and Tripp Smith, was the founder of Blackstone’s alternative credit platform GSO, which was acquired by Blackstone in 2008.
Prior to co-founding GSO in 2005, Ostrover served as chairman of the leveraged finance group of CSFB.
Blackstone CEO, chairman and co-founder Stephen Schwarzman said: "On behalf of all of us at the firm, I want to thank Doug for his many contributions to Blackstone and GSO.
"He leaves behind a deep bench of finance professionals at GSO, whom he helped mentor and train over the years. I wish him well in the next stage of his career and I am glad that he is keeping a continuing affiliation with the firm."
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