PHILADELPHIA, Sept. 15, 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 $1.1 billion in senior secured loans and other
debt and equity financing to middle market companies in the second
quarter of 2017. The directly originated investments supported five
new portfolio companies and provided financing to several existing
portfolio companies during the quarter.
The commitments were provided by five BDCs managed by affiliates
of FS Investments and sub-advised by GSO Capital Partners LP (GSO)
or its affiliates: 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 second quarter:
Actian Corp. (Actian)
FSIC, FSIC II, FSIC III and FSIC IV provided a new senior secured
unitranche loan to Actian Corp. to refinance existing debt. Based
in Palo Alto, CA, Actian is a
leading provider of hybrid data management and integration
solutions for mission-critical enterprise applications.
Imperial Dade (Dade)
FSIC, FSIC II, FSIC III and FSIC
IV provided a new senior secured unitranche loan to support the
acquisition of Dade Paper by Imperial Bag & Paper. The combined
company, Imperial Dade, is a leading independent distributor of
food service disposables and janitorial supplies on the East
Coast.
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 and focuses on setting industry standards for
investor protection, education and transparency.
FS Investments is headquartered in Philadelphia, PA with offices in Orlando, FL and Washington, DC. The firm had more than
$20 billion in assets under
management as of June 30, 2017. Visit
fsinvestments.com to learn more.
ABOUT BLACKSTONE AND GSO
Blackstone is one of the world's leading investment firms.
Blackstone seeks to create positive economic impact and long-term
value for its investors, the companies it invests in, and the
communities in which it works. The firm does this by using
extraordinary people and flexible capital to help companies solve
problems. Blackstone's asset management businesses, with
approximately $371 billion in assets
under management as of June 30, 2017,
includes investment vehicles focused on private equity, real
estate, public debt and equity, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
GSO is the global credit investment platform of Blackstone. With
approximately $95 billion of assets
under management as of June 30, 2017,
GSO is one of the largest alternative managers in the world focused
on the leveraged-finance, or non-investment grade related,
marketplace. GSO seeks to generate attractive risk-adjusted returns
in its business by investing in a broad array of strategies
including mezzanine debt, distressed investing, leveraged loans and
other special-situation strategies. Its funds are major providers
of credit for small and middle-market companies and they also
advance rescue financing to help distressed companies.
Forward-Looking Statements and Important Disclosures
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance or operations of FSIC, FSIC II, FSIC III, FSIC IV and
FSEP. Words such as "believes," "expects," "projects" and "future"
or similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to the
inherent uncertainties in predicting future results and conditions.
Certain factors could cause actual results to differ materially
from those projected in these forward-looking statements, and some
of these factors are enumerated in the filings FSIC, FSIC II, FSIC
III, FSIC IV or FSEP make with the U.S. Securities and Exchange
Commission. FSIC, FSIC II, FSIC III, FSIC IV or FSEP undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact Information:
FS Investments Media Team
Marc Yaklofsky / Kate Beers
media@fsinvestments.com
215-495-1174
Dominic Mammarella
Investor Relations
dominic.mammarella@fsinvestments.com
215-220-4280
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SOURCE FS Investments