We are FS Investments

A global alternative asset manager dedicated to delivering superior performance and innovative investment solutions

We are FS Investments

A global alternative asset manager dedicated to delivering superior performance and innovative investment solutions

Alternatives access for all 

FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions. The firm manages over $79 billion in assets for a wide range of clients, including institutional investors, financial professionals and individual investors. We never settle when solving investor needs and are committed to investor protection, education and transparency. 

The firm was founded in 2007 with a vision of providing individual investors access to alternative asset classes and strategies historically available only to large institutions and ultra-high-net-worth individuals. We combined with Portfolio Advisors in 2023, meaningfully expanding our investment capabilities and broadening our client base. Since its inception in 1994, Portfolio Advisors has provided tailored private markets investment solutions to its institutional clients, specializing in the middle market.  

Together, we provide access to a broad suite of alternative asset classes and strategies, including private equity, credit, real assets and multi-asset investments, through our best-in-class investment teams and partners. With our diversified platform and flexible capital solutions, FS Investments is a valued partner to general partners, asset owners and portfolio companies. 

FS Investments is grounded in our high-performance culture and guided by our shared commitment to clients, colleagues and communities. We have more than 500 employees across offices in the U.S., Europe and Asia and are headquartered in Philadelphia.

Key facts

All data as of 12/31/2023

Michael Forman
Chairman + CEO

$79+ billion

22 funds
Private and public market offerings

10 offices
Philadelphia, Darien, Dallas, Hong Kong, Kansas City, London, New York City, Orlando, Singapore, Zurich


Our story – transforming the investment landscape

Michael Forman launches Franklin Square with co-founder David Adelman and a small group of colleagues.

FS Global Credit Opportunities Fund launches as the first unlisted closed-end fund.

Franklin Square reaches $10 billion in assets under management.

FSIC, the industry’s first non-traded business development company, lists on the NYSE.

Doors open at the new company headquarters, located in Philadelphia’s historic Navy Yard.

Franklin Square becomes FS Investments.

FS Energy Total Return Fund launches in partnership with Magnetar Asset Management.

FS Multi-Strategy Alternatives Fund launches in partnership with Wilshire Associates Incorporated.

FS Credit Real Estate Income Trust launches in partnership with Rialto Capital Management.

FS Credit Income Fund launches in partnership with GoldenTree Asset Management.

FS Long/Short Equity Fund launches.

FSIC merges with Corporate Capital Trust and is renamed FS KKR Capital Corp. (FSK).

Fund mergers form FS KKR Capital Corp. II, the second-largest business development company.

FS Investments acquires Chiron Investment Management, LLC.

FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR) merge, creating a $15 billion BDC.

FS Investments partners with NYDIG to offer access to simple, efficient, and cost-effective bitcoin products.

FS Chiron Real Assets Fund launches.

Philadelphia Financial Scholars becomes independent 501(c)3.

FS Credit Opportunities Corp. (FSCO) begins trading on the New York Stock Exchange.

FS Investments and Portfolio Advisors combine, creating a $75 billion+ alternative investment firm.

FS MVP Private Markets Fund launches.


Meet our leadership team


Learn about our culture and commitments

  • Total AUM estimated as of December 31, 2023. References to “assets under management” or “AUM” represent the assets managed by FS Investments or its strategic partners as to which FS Investments is entitled to receive a fee or carried interest (either currently or upon deployment of capital) and general partner capital. FS Investments calculates the amount of AUM as of any date as the sum of: (i) the fair value of the investments of FS Investments’ investment funds; (ii) uncalled capital commitments from these funds, including uncalled capital commitments from which FS Investments is currently not earning management fees or carried interest; (iii) the value of outstanding CLOs (excluding CLOs wholly-owned by FS Investments); (iv) the fair value of FSK JV assets and FSSL JV assets; and (v) the fair value of other assets managed by FS Investments. The AUM also includes the estimated AUM of Portfolio Advisors, LLC as of December 31, 2023, which FS acquired through a merger on June 30, 2023. AUM for Portfolio Advisors, LLC is measured as adjusted reported value plus unfunded commitments. FS Investments’ calculation of AUM may differ from the calculations of other asset managers and, as a result, FS Investments’ measurements of its AUM may not be comparable to similar measures presented by other asset managers. FS Investments’ definition of AUM is not based on any definition of AUM that may be set forth in agreements governing the investment funds, vehicles or accounts that it manages and is not calculated pursuant to any regulatory definitions.

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