PHILADELPHIA, Jan. 29, 2016 /PRNewswire/ -- Franklin
Square Capital Partners, the largest manager of business
development companies (BDCs), announced the origination of a
unitranche term loan to PSKW, LLC (PSKW), a leading developer and
marketer of co-pay assistance (CPA) programs for pharmaceutical
drugs. The financing supported the acquisition of PSKW by Genstar
Capital (Genstar), a San Francisco,
CA-based private equity investment firm focused on actively
investing in high-quality companies for more than 20 years. In
addition, the financing also supported PSKW's add-on acquisition of
PDR Network, LLC, a provider of behavior-based prescription
management programs.
The financing was provided by FS Investment Corporation (NYSE:
FSIC), FS Investment Corporation II (FSIC II) and FS Investment
Corporation III (FSIC III), BDCs managed by affiliates of Franklin
Square and sub-advised by GSO / Blackstone Debt Funds Management
LLC (GDFM), an affiliate of GSO Capital Partners LP (GSO).
"Our strong relationship with Genstar and the size of our
direct-lending platform help ensure that we have a strong capital
base to draw upon to meet the financing needs for growing companies
like PSKW when opportunities arise," said Michael C. Forman, Chairman and Chief Executive
Officer of FSIC, FSIC II and FSIC III.
"PSKW is a top player in the industry by a variety of metrics,"
commented Brad Marshall, Senior
Managing Director and Senior Portfolio Manager at GDFM. "With its
extensive operating footprint, new technologies and a history of
successful growth, we believe PSKW is poised for continued
success."
"The financial backing from Franklin
Square and GSO and continued support of Genstar position us
to further penetrate the expanding CPA industry," said Steve Freeman, President of PSKW.
Specific terms of the financing were not disclosed.
About Franklin
Square
Franklin Square
is a leading manager of alternative investment funds designed to
enhance investors' portfolios by providing access to asset classes,
strategies and asset managers that typically have been available to
only the largest institutional investors. The firm's funds offer
"endowment-style" investment strategies that help construct
diversified portfolios and manage risk. Franklin Square strives not only to maximize
investment returns but also to set the industry standard for best
practices by focusing on transparency, investor protection and
education for investment professionals and their clients.
Founded in Philadelphia in
2007, Franklin Square quickly established itself as a leader in the
world of alternative investments by introducing innovative
credit-based income funds, including the industry's first
non-traded BDC. As of September 30,
2015, the firm managed approximately $17.0 billion in total assets, including
$15.7 billion in BDC assets, making
it the largest manager of BDCs. For more information, please visit
www.franklinsquare.com.
For information about FSIC, please visit
www.fsinvestmentcorp.com.
For information about FSIC II and FSIC III, visit
www.franklinsquare.com.
Contact Information:
Franklin Square Media Team
media@franklinsquare.com
215-495-1174
Jim Ballan
Senior Vice President,
Investor Relations & Capital Markets
james.ballan@franklinsquare.com
267-439-4375
About Blackstone and GSO
Blackstone is one of the
world's leading investment firms. We seek to create positive
economic impact and long-term value for our investors, the
companies we invest in, and the communities in which we work. We do
this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses, with
over $330 billion in assets under
management, include 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 Capital Partners LP is the global credit investment platform
of Blackstone. With approximately $81
billion of assets under management, 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 or
PSKW. 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 and
FSIC III make with the U.S. Securities and Exchange Commission.
FSIC, FSIC II and FSIC III undertake no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Individual investors and endowments may have different
investment horizons, liquidity needs and risk tolerances. In
addition, fees that may be incurred by an investor in a fund
sponsored by Franklin Square may be
different than fees incurred by an endowment investing in similar
assets as those in which the funds invest.
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SOURCE Franklin Square Capital Partners