11 May 2012 11:00
Carador Income Fund plc (the 'Company')
Change in portfolio manager
The Company's Investment Manager, GSO Capital Partners International LLP (together with its affiliates, 'GSO Blackstone'), has announced the immediate appointment of Mark Moffat as the Company's new portfolio manager. Mr. Moffat replaces Miguel Ramos-Fuentenebro, who is no longer with GSO Blackstone. All other members of the GSO Blackstone structured credit investment team remain unchanged.
The Directors wish to thank Mr Ramos-Fuentenebro for his significant contribution to the success of the Company over the last few years.
Mr. Moffat will, like his predecessor, continue to draw on GSO Blackstone's credit analysis and due diligence resources and all investments made by the Company will continue to be approved by GSO Blackstone's seven person global structured credit Investment Comittee, which now includes Mr Moffat as a member .
Mr. Moffat joined GSO Blackstone in January 2012 following GSO Blackstone's acquisition of Harbourmaster Capital Management Limited and its affiliates (collectively, 'Harbourmaster'), a leading manager of senior secured loans and non-investment grade credit assets in Europe, where he was Co-Head of the business. Mr. Moffat is based in London and has 15 years' experience in creating, managing and overseeing structured credit products including CLOs and senior secured loans. He joined Harbourmaster in 2007 from Bear Stearns International Limited where he was head of European Debt and Equity capital markets and the European CDO business.
The Company's investment strategy will remain as currently stated and will continue to focus on secondary CLO positions exposed to US senior loans.
GSO Blackstone has expressed the strategic importance of the Company to its business and intends to continue to build on its successful strategy.
The Directors are supportive of the change in portfolio manager and recognise the depth of resources provided by GSO Blackstone to the management of the Company's portfolio; however, they believe it is appropriate at the current time to defer the proposed issuance of C shares.
Enquiries
GSO Blackstone
Nicole Meadows
Blackstone, London
Tel: +44(0) 207 451 4026
Nicole.Meadows@blackstone.com
Peter Rose
Blackstone, New York
Tel: +1 212 583 5871
Rose@blackstone.com