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.
Contact Information:
FS Investments Media Team
media@fsinvestments.com
215-495-1174
Dominic Mammarella
Investor Relations
dominic.mammarella@fsinvestments.com
215-220-4280
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 approximately $367
billion in assets under management as of December 31, 2016, 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 Capital Partners LP (GSO) is the global credit investment
platform of Blackstone. With approximately $93 billion of assets under management as of
December 31, 2016, 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.
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SOURCE FS Investments