Philadelphia — March 3, 2020 – FS Investments (“FS”), a leading alternative investment manager with approximately $26 billion in assets under management, today announced that it has closed its previously announced acquisition of Chiron Investment Management (“Chiron”).

“By adding the Chiron funds and team to the FS platform, we are better able to serve our clients with a broader set of solutions and expanded distribution,” commented Michael Forman, Chairman and Chief Executive Officer of FS Investments. “Our complementary investment approaches also position us to be a leader in developing model portfolios that combine traditional and alternative strategies.”

Chiron is a global multi-asset investment boutique that employs an active investment approach rooted in quantitative analytics and fundamental research. Chiron manages three funds which will continue to be managed as standalone funds within the FS portfolio by Ryan Caldwell, co-founder and Chief Investment Officer of Chiron. Mr. Caldwell is well known for his tenure at Waddell & Reed where he co-managed a suite of funds, including the Ivy Asset Strategy, as it grew from $250 million to $40 billion in assets under management.

Nearly all of Chiron’s employees have joined FS. Of particular note, Enrico Gaglioti, Mr. Caldwell’s co-founder and previously the Chief Executive Officer of Chiron, joins FS as Co-President alongside Mike Kelly, FS’s CIO. Mr. Gaglioti will serve on the firm’s Executive Committee and oversee firm strategy with Mr. Kelly, as well as oversee distribution, operations and technology in his new role.

“We are excited to join FS Investments where we share the same client-focused values and can leverage complementary business expertise to drive innovation,” said Mr. Gaglioti. “Together, we will help clients build better and more diverse portfolios with greater exposure to non-correlated strategies in a variety of fund structures.”

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, Washington, DC and Leawood, KS. Visit www.fsinvestments.com to learn more.

Media Contacts 
Melanie Hemmert
Melanie.Hemmert@fsinvestments.com
215-309-6843

FORWARD-LOOKING STATEMENTS

This announcement may contain certain forward-looking statements, including statements with regard to future events or future performance or operations. 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. Factors that could cause actual results to differ materially include changes in the economy, risks associated with possible disruption in operations or the economy generally due to terrorism or natural disasters, future changes in laws or regulations, failure to consummate the transaction, uncertainties as to the timing of consummation of the transaction, unexpected costs, charges or expenses resulting from the transaction or failure to realize the anticipated benefits of the transaction. The parties undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.