Fund news

Franklin Square Capital Partners (Franklin Square), the largest manager of business development companies (BDCs), announced an upsizing of its senior secured unitranche loan to support the merger of Air Energi Group Limited with Swift Worldwide Resources Limited, a portfolio company of the New York-based middle market private equity firm Wellspring Capital Management, to form Airswift Holdings Limited.

FSIC III announced the addition of James W. Brown to its board of directors.

FS Investment Corporation II (“FSIC II”) announced today plans to release its fourth quarter and full year 2015 results on Friday, March 25, 2016.

Franklin Square Capital Partners, the largest manager of business development companies (BDCs), has unveiled an innovative structure for non-traded alternative investments that reduces fees and seeks to align the interests of investors, advisors, regulators and sponsors. The firm recently announced that FS Investment Corporation IV (FSIC IV), an income-focused non-traded business development company (BDC), commenced operations with an industry-leading commission structure that responds to FINRA Regulatory Notice 15-02 (15-02).

With the introduction of FSIC IV, Franklin Square has created a new commission structure that lowers investor fees. InvestmentNews’ Bruce Kelly explores the significance to investors and the alternatives industry.

FS Investment Corporation IV (FSIC IV), a new business development company sponsored by Franklin Square Capital Partners (Franklin Square), has satisfied its minimum offering requirement, admitted its initial public investors as stockholders and commenced operations. FSIC IV has registered for public sale in a continuous offering up to 250 million shares of common stock.

FS Energy and Power Fund (FSEP), a business development company (BDC) focused primarily on investing in the debt and income-oriented equity securities of privately-held U.S. companies in the energy and power industry, announced its operating results for the quarter ended September 30, 2015.

Without sufficient credit, it is tough for businesses to grow, said Michael Forman, CEO of Franklin Square Capital Partners, particularly when the macroeconomic environment remains shaky. In Europe, banks, which traditionally have dominated corporate lending , are still struggling with the many non-performing loans on their balance sheets, and increased regulation imposed by Basel III is making it harder for them to extend credit.

FS Global Credit Opportunities Fund gives investors access to global corporate debt.

FS Investment Corporation II (“FSIC II”) successfully completed its minimum offering requirement of $2.5 million in capital raised from persons not affiliated with FSIC II and admitted its initial public investors as stockholders.