Meet FS Investments

We are a leading asset manager providing access to alternative sources of income and growth.

Meet FS Investments

We are a leading asset manager providing access to alternative sources of income and growth.

FS Investments helps investors design better portfolios.

We started as Franklin Square Capital Partners in 2007 with a vision to bring investors access to alternative sources of income and growth historically available only to large institutions and the wealthiest individuals. We helped change that and, as FS Investments, we remain committed to helping people transform their portfolios.

Our thoughtfully designed solutions combine differentiated strategies, top institutional managers and investment structures tailored to our investors’ needs. We focus on setting industry standards for investor protection, education and transparency. Today we manage a growing suite of funds designed for financial professionals, individuals and institutions to achieve a variety of financial goals.

Key facts

All data as of 12/31/2022

Michael Forman
Chairman + CEO

$35+ billion

12+ funds
Interval, closed-end and mutual funds, BDCs, credit REIT

Philadelphia, New York, Orlando, FL, and Leawood, KS


Our story – transforming the investment landscape

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

FS Investment Corporation (FSIC) launches, becoming the first non-traded BDC in the industry.

FS Energy & Power Fund (FSEP) debuts as the first energy-focused BDC.

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.


Meet our leadership team


Learn about our culture and commitments

  • Total AUM estimated as of September 30, 2022. 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 FSEP JV assets; and (v) the fair value of other assets managed by FS Investments. 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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