Former GSO Managing Director to Lead Formation of Credit Investing Platform
LOS ANGELES, CA, July 17, 2018 – Platinum Equity announced today that Michael Fabiano will join the firm to lead formation of a credit investing division built around Platinum Equity’s signature M&A&O® investment strategy.
Mr. Fabiano was most recently a Managing Director at GSO Capital Partners LP, the global credit investment platform of Blackstone, where he led credit investments in operationally and financially challenged situations. He will join Platinum Equity in January 2019 and will be based in New York with a global mandate as head of credit.
“Michael is a seasoned credit investor with a strong track record,” said Platinum Equity CEO Tom Gores. “He is highly qualified, highly respected and highly experienced. He also sees the world through the same lens we do, with a focus on operational performance and execution.”
Mr. Gores said Platinum Equity’s credit platform will complement its successful private equity business, enabling the firm to leverage deal flow and sector knowledge to invest across the capital structure to the benefit of the firm’s institutional investors.
“We believe there are substantial opportunities for smart investors in the credit and special situations markets,” Mr. Gores said. “But it is important to have the right team in place. We are excited to have Michael join us and take the reins in building this platform.”
“We believe there are substantial opportunities for smart investors in the credit and special situations markets,” said Platinum Equity CEO Tom Gores, “But it is important to have the right team in place. We are excited to have Michael join us and take the reins in building this platform.”
Mr. Fabiano’s relationship with the Platinum Equity team extends back many years.
“Having invested alongside Platinum in the past, I have witnessed first-hand the power of the firm’s operations-focused investment approach, and the substance behind it. Our plan is to apply the firm’s core M&A&O investment strategy to the credit markets,” Mr. Fabiano said. “It is difficult to leave GSO, which is one of the premier credit investors in the world and has been my professional home for more than a decade. But, I am thrilled to join Tom and the Platinum team as we build a new investment platform from the ground up.”
Prior to joining GSO, Mr. Fabiano was an investment banker at Morgan Stanley where he was a member of the Leveraged Finance team and worked on numerous leveraged buyouts and recapitalizations. Mr. Fabiano holds a BS in Business Administration with honors from Georgetown University and an MBA with honors from the University of Chicago.
Founded by Mr. Gores in 1995, Platinum Equity funded its initial buyout investments with founders’ capital and raised its first private equity fund in 2004, with $700 million in capital commitments. That was followed by Fund II with $2.75 billion in 2007, Fund III with $3.75 billion in 2012, and Fund IV with $6.5 billion. The firm recently raised Platinum Equity Small Cap Fund, a $1.5 billion vehicle focused exclusively on the lower middle market, complementing the flagship large cap fund.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 200 acquisitions.