FS Investments Closes on More Than $1.7 Billion of Middle Market Commitments in the Fourth Quarter
April 10, 2017 | FS Investments
PHILADELPHIA, April 10, 2017 /PRNewswire/ — FS Investments, a leading alternative investment manager and the largest manager of business development companies (BDCs), announced that its BDC direct lending platform committed more than $1.7 billion in senior secured loans and other debt and equity financing to middle market companies in the fourth quarter of 2016, bringing its total originations in 2016 to approximately $4.0 billion. The directly originated investments supported five new portfolio companies and provided financing to several existing portfolio companies during the quarter.
The 2016 commitments were provided by five BDCs managed by affiliates of FS Investments and sub-advised by affiliates of GSO Capital Partners LP: FS Investment Corporation (NYSE: FSIC), FS Investment Corporation II (FSIC II), FS Investment Corporation III (FSIC III), FS Investment Corporation IV (FSIC IV) and FS Energy and Power Fund (FSEP). FS Investments’ directly originated transactions, which are unique to its BDCs and not typically accessible elsewhere, included investments in the following companies in the fourth quarter:
Addison Group (Addison)
FSIC, FSIC II, FSIC III and FSIC IV provided senior secured financing to support Odyssey Investment Partners’ acquisition of Addison Group. Addison is a leading national provider of professional staffing and direct hire services. The company concentrates on placing skilled professionals in service lines including information technology, finance and accounting, non-clinical healthcare, and HR/administration.
Empire Today, LLC (Empire)
FSIC, FSIC II, FSIC III and FSIC IV provided a new senior secured unitranche loan to Empire Today, LLC. Empire is the largest in-home sales flooring company in the United States and one of the largest specialty flooring providers in America. The financing supports the acquisition of Empire by an affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with more than $21 billion of equity capital under management.
ABOUT FS INVESTMENTS
FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth through funds managed in partnership with top institutional investment advisers. It focuses on setting industry standards for investor protection, education and transparency.
FS Investments is headquartered in Philadelphia with offices in Orlando and Washington, DC. The firm currently manages seven funds with over $19 billion in assets under management as of December 31, 2016. Visit fsinvestments.com to learn more.
FS Investments Media Team
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