PHILADELPHIA, June 9, 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 $1.4 billion in senior secured loans and other
debt and equity financing to middle market companies in the first
quarter of 2017. The directly originated investments supported
seven 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 first quarter:
Jet Support Services Inc. (JSSI)
FSIC, FSIC II, FSIC
III, FSIC IV and FSEP provided a new senior secured unitranche loan
to JSSI. Based in Chicago, IL,
JSSI is the world's largest independent provider of hourly cost
maintenance programs for aircraft engines, auxiliary power units
and airframes.
United Subcontractors Inc. (USI)
FSIC, FSIC II, FSIC III and FSIC IV provided senior secured
financing to support the acquisition of USI by Trilantic Capital
Partners, a New York-based private
equity firm with commitments throughout North America and Europe. USI is the nation's third-largest
provider of installation, construction and distribution services to
residential and commercial construction markets.
Chisholm Oil and Gas Operating, LLC (Chisholm)
FSIC,
FSIC II, FSIC III, FSIC IV and FSEP provided new financing to
Chisholm to support the company's acquisition of assets in
Oklahoma's STACK play.
Headquartered in Tulsa, OK,
Chisholm is a private equity-backed oil exploration and production
company. Its management team has extensive experience finding and
developing oil and gas assets across the Mid-Con and Bakken
formations, the Gulf Coast and internationally.
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 March 31, 2017.
Visit fsinvestments.com to learn more.
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
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 $368 billion in assets
under management as of March 31,
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 $93 billion of assets under management as of
March 31, 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.
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SOURCE FS Investments