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GSC Starts New Fund, Hires Heavy Hitter

NEW YORK CITY-GSC Partners brings on a former BlackRock executive to serve as portfolio manager for a new fund. The not-yet-named fund will focus on US-based commercial real estate-backed high yield debt and mezzanine investments.

By Barbara Jarvie | Updated on March 23, 2006

(To read more on the debt and equity markets, click here.)

NEW YORK CITY-GSC Partners has started a new fund that will focus on US commercial real estate back high yield debt and mezzanine investments. This comes on the heels of the firm starting a hedge fund and taking its REIT public earlier this year. To head up the unnamed fund, the firm has appointed Alexander K. Zabik to serve as head of high yield real estate. He will be a portfolio manager for the new fund. In his most recent position, Zabik was a senior member of BlackRock Inc.’s real estate debt group as well as a member of the investment committee and investment strategy group.

“This new high yield real estate product leverages GSC’s core competency in complex credit analysis and skill at evaluating mortgage and real estate-backed securities,” explains Alfred C. Eckert III, chairman and chief executive of GSC Partners. No dollar amount has been attached to the fund as of yet.

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