- Combined company manages over $75
billion in assets and a broad suite of alternative
strategies for institutional and individual investors
- FS MVP Private Markets Fund to bring Portfolio Advisors'
private markets platform to individual investors
PHILADELPHIA and DARIEN, Conn., June 30,
2023 /PRNewswire/ -- FS Investments, a pioneer
in the democratization of alternative investments, and Portfolio
Advisors, a global middle-market private asset specialist, today
announced they have closed the transaction to combine their firms
and create a $75 billion alternative
asset manager.
"I am delighted to complete our combination with Portfolio
Advisors and welcome our new colleagues," said Michael Forman, Chairman and CEO of FS
Investments. "I look forward to bringing Portfolio Advisors'
investment expertise across private equity, credit, and real estate
to our platform. As a combined firm, we will be able to offer
institutional and individual investors access to a truly
diversified suite of alternative asset classes and strategies
managed by our best-in-class investment teams and partners."
"We are excited to join forces with FS Investments and look
forward to leveraging our complementary investment and product
development capabilities," added Brooks
Lindberg, Managing Director at Portfolio Advisors. "Our
combined platform is well positioned to deliver comprehensive
solutions to our institutional and wealth management clients around
the globe."
The combined firm also announced its first joint initiative to
grow the FS MVP Private Markets Fund, an SEC-registered private
equity fund focused on the U.S. middle market. With approximately
$600 million in assets as of
May 31, 2023, the fund offers access
to a range of high-quality sponsors that Portfolio Advisors
believes to be among the "MVPs" of the middle market, through a
broadly diversified portfolio built primarily on direct and
secondary investments.
Forman added, "Our wealth management clients have long expressed
interest in greater access to private equity and other private
markets solutions. We are pleased to bring the FS MVP Private
Markets Fund, a diversified solution that seeks to deliver the best
of what Portfolio Advisors offers, to our clients and the broader
market. We think funds like FS MVP will be the next significant
growth area for wealth managers, providing both return and
diversification potential for client portfolios. We see many more
growth opportunities across the Portfolio Advisors platform and
look forward to delivering them to our clients over time."
Michael Forman will serve as
Chairman and CEO of the combined firm, which will be led by a
Management Committee with representatives from both FS Investments
and Portfolio Advisors. Its members will include Forman,
Enrico Gaglioti and Mike Kelly, Co-Presidents of FS Investments, and
Brooks Lindberg and Elizabeth Campbell, Managing Directors at
Portfolio Advisors.
About FS Investments
FS Investments is a global
alternative asset manager dedicated to delivering superior
performance and innovative investment and capital solutions. The
firm manages over $75 billion in
assets for a wide range of clients, including institutional
investors, financial professionals and individual investors. FS
Investments provides access to a broad suite of alternative asset
classes and strategies through its best-in-class investment teams
and partners. With its diversified platform and flexible capital
solutions, the firm is a valued partner to general partners, asset
owners and portfolio companies. FS Investments is grounded in its
high-performance culture and guided by its commitment to building
value for its clients, investing in its colleagues and giving back
to its communities. The firm has more than 500 employees across
offices in the U.S, Europe and
Asia and is headquartered in
Philadelphia.
Contact Information
Melanie
Hemmert
media@fsinvestments.com
Ryan McDougald / Elizabeth Lake (FGS Global)
fsinvestments@fgsglobal.com
Portfolio Advisors Client Relations
clientrelations@portad.com
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 FS MVP Private Markets Fund. 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 the Fund makes with the U.S.
Securities and Exchange Commission. The Fund undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
This is neither an offer to sell nor a solicitation to
purchase any security. Investors should carefully consider the
investment objectives, risks, charges and expenses of FS MVP
Private Markets Fund. This and other important information about
the Fund are contained in the prospectus, which can be obtained by
visiting www.fsinvestments.com. Please read the prospectus
carefully before investing.
ALPS Distributors, Inc 1290 Broadway, Suite 1000 Denver, CO 80203 is the distributor of the FS
MVP Private Markets Fund. The Fund and ALPS Distributors, Inc are
not affiliated.
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SOURCE FS Investments