FS Investment Corp (NYSE:FSIC) Reports Fund Manager Changes

FS Investment Corp (NYSE:FSIC), a major alternative investment manager with assets under management of more than $20 billion, reported that it has agreed to establish new partnerships with EIG Global Energy Partners and KKR to manage its business development company platform. It also reported the engagement of a liquid credit portfolio manager who will look after one of FS’ closed-end funds.

The details

Michael Forman, the CEO and Chairman of FS Investment, expressed that as the FS funds advisor, their objective has always been to establish long-term value for their shareholders by matching attractive investment plans with best-in-class asset managers and strategic fund structures. Over the last year, they have introduced four new plans, each with distinct sub-advisors, to capture exciting market prospects with the managers best placed to take benefit of them. Recent announcements further exhibit this approach, and they consider they are well-positioned to enhance long-term value for investors in the respective funds.

To date, FS Investment has engaged GSO Capital Partners to sub-advice the funds affected by these announcements. GSO and FS have finalized a deal to conclude their association and will work together to confirm a smooth transition.

The CEO of FS Investment added that while their association with GSO has resulted in notable for their borrowers and shareholders, they have concluded that current market need a change in their management approach to the funds. They thank GSO for its services, and are delighted they have reached a deal that ensures a smooth transition and comprises restrictions on GSO that protects investors.

In another press release, FS reported that it is associating with KKR to establish an $18 billion middle market business development company platform. The company has entered into a deal to form an association with KKR to offer investment advisory services to four business development companies presently managed by FS Investment and a BDC currently seen by KKR.

 

Enter Email Here

START HERE: Get Your
FREE Report On This Stock

To reeive our FREE investing report and weekly alerts, enter your information below!

Your privacy is important to us. We’ll never share your information.

 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of USmarketsDaily.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

https://www.USmarketsDaily.com/disclaimer

 











 

Standley Adam

Standley Adam

Adam is a staff reporter for US Markets Daily Publications & Media, covering foreign affairs and domestic policy.