PHILADELPHIA, Oct. 30, 2019 /PRNewswire/ -- FS/KKR
Advisor, LLC (FS/KKR), a partnership between FS Investments and KKR
Credit Advisors (US) LLC, today announced several leadership
changes to drive operational excellence and long-term growth.
Steven Lilly, who joined FS
Investments as a Managing Director in October, will assume the role
of Chief Financial Officer of certain business development
companies (BDCs) advised by FS/KKR in mid-November. In his role,
Mr. Lilly will help strategically lead and will oversee the
finance, investor relations and capital markets functions at FS KKR
Capital Corp. (NYSE: FSK), FS Investment Corporation II, FS
Investment Corporation III, and FS Investment Corporation IV
(together, the BDCs).
"Steven's strong financial services background and BDC industry
knowledge will be invaluable to the BDCs as we continue to pursue
our strategic initiatives," said Michael
Forman, Chairman and Chief Executive Officer of FS
Investments. "We look forward to Steven's contributions to the
franchise as we work to complete the mergers and listing of our
non-traded BDCs and deliver long-term shareholder value."
"FS/KKR is creating a leading franchise in the BDC industry,"
added Mr. Lilly. "Based on my diligence of the combined operational
teams and my understanding of the platform's key objectives, I
believe it is an exciting and opportune time to join the team."
Previously, Mr. Lilly served for 13 years as Chief Financial
Officer of Triangle Capital Corporation, a publicly traded BDC
which was sold to Benefit Street Partners and Barings, LLC in 2018.
At Triangle, he built the company's financial and operating
infrastructure, oversaw listings on the Nasdaq and the New York
Stock Exchange in 2007 and 2010, respectively, and led all
corporate M&A and strategic processes involving the BDC. During
his tenure, he was recognized three times as one of "America's Best
CFOs" by Institutional Investor. Prior to joining Triangle,
Mr. Lilly spent seven years as Senior Vice President of Finance and
Treasurer at SpectraSite Communications, a leading publicly traded
wireless tower company which was sold to American Tower Corporation
in 2005. He began his career in the media and communications
capital markets group at First Union, now part of Wells Fargo.
Effective with Mr. Lilly's appointment, William Goebel, who currently serves as the
BDCs' Chief Financial Officer, will become the BDCs' Chief
Accounting Officer.
In addition, Daniel Pietrzak and
Brian Gerson have been appointed
Co-Presidents of the BDCs. Mr. Pietrzak is Co-Head of Private
Credit at KKR and will continue to serve as Chief Investment
Officer of the BDCs, a position he has held since April 2018. Mr. Gerson is Head of Private Credit
at FS Investments and has served on FS/KKR's Investment Committee
since April 2018.
In connection with Mr. Gerson and Mr. Pietrzak's appointment,
Todd Builione has stepped down as
President of the BDCs, but will continue to serve as President of
FS/KKR and as a Director for each of the BDCs.
Finally, Drew O'Toole and
Ryan Wilson have been appointed
Co-Chief Operating Officers of the BDCs. Mr. O'Toole is an
Executive Director of FS Investments. Mr. Wilson is a Director of
KKR Credit and the Chief Operating Officer of KKR Private
Credit.
"Daniel, Brian, Drew and Ryan have all done a superb job
contributing to the execution of our key initiatives," continued
Forman. "These changes are a natural evolution of the leadership
team and speak to the strength and collaborative nature of the
partnership between FS and KKR."
About FS/KKR Advisor, LLC
FS/KKR is a partnership between FS Investments and KKR Credit
that serves as the investment adviser to BDCs with approximately
$17 billion in assets under
management as of June 30, 2019. The
BDCs managed by FS/KKR include FSK, FS Investment Corporation II,
FS Investment Corporation III, FS Investment Corporation IV and
Corporate Capital Trust II.
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 New York, NY,
Orlando, FL and Washington, DC. Visit www.fsinvestments.com to
learn more.
About KKR Credit
KKR Credit is a subsidiary of KKR & Co. Inc., a leading
global investment firm that manages multiple alternative asset
classes, including private equity, energy, infrastructure, real
estate and credit, with strategic manager partnerships that manage
hedge funds. KKR aims to generate attractive investment returns for
its fund investors by following a patient and disciplined
investment approach, employing world-class people, and driving
growth and value creation with KKR portfolio companies. KKR invests
its own capital alongside the capital it manages for fund investors
and provides financing solutions and investment opportunities
through its capital markets business. References to KKR's
investments may include the activities of its sponsored funds. For
additional information about KKR & Co. Inc. (NYSE: KKR), please
visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
Investor Relations Contact
Robert Paun
Robert.Paun@fsinvestments.com
Media Contact
Melanie Hemmert
Melanie.Hemmert@fsinvestments.com
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SOURCE FS/KKR Advisor, LLC