GSO/Blackstone Debt Funds Management has completed its acquisition of the collateral management agreements for all nine CDO and CLO funds previously held by Callidus Capital Management, a portfolio company of Allied Capital. GSO first announced its plans to do so in January (see SCI issue 169).

The funds invest primarily in leveraged loans and high yield bonds. Total assets within the funds subject to this initial closing are approximately US$3.1bn. The purchase price has not been disclosed.