Private placement offering executes opportunistic and special situations credit strategy
PHILADELPHIA, May 15, 2023 — FS Investments, a leading alternative asset manager with $35 billion in assets under management, today announced the final closing of FS Tactical Opportunities Fund (the “Fund”).
FS Tactical Opportunities Fund is a private fund intended for institutional investors. The Fund employs an opportunistic credit strategy that seeks to generate off-market yield and returns compared to traditional credit asset classes. The Fund originates direct investments and acquires secondary investments focused on complex, niche or unconventional situations.
The Fund is managed by the same seasoned FS Investments Liquid Credit & Special Situations team that manages $2.1 billion and has historically delivered strong performance for publicly traded FS Credit Opportunities Corp., which invests in capital structure solutions and secondary credit opportunities. The team has experience in syndicated credit, private credit, private equity and structured products and is led by Andrew Beckman, Head of Liquid Credit & Special Situations, and Nicholas Heilbut, Portfolio Manager and Director of Research. The investment team has unique and robust sourcing capabilities and extensive experience executing this strategy, benefiting from the experience and resources of the broader FS Investments platform and its position as one of the largest U.S. middle market lenders.
To date, the Fund has called approximately 50% of capital commitments and invested in 21 companies across a diverse mix of sectors.
“We are grateful for the support of our investors and look forward to continuing to deliver strong performance for them,” said Beckman. “In an uncertain and volatile market, we believe FS Tactical Opportunities Fund is well positioned to outperform given the highly structured and idiosyncratic nature of its private investments and its ability to opportunistically purchase secondary investments during dislocations, which translates into less dependence on the economic cycle.”
Debevoise & Plimpton LLP acted as counsel to FS Investments.
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 Leawood, KS.
Certain information contained in this release are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology or the negative versions of these words or other comparable words thereof. These may include projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements with respect to acquisitions, and statements regarding future performance and statements regarding identified but not yet closed acquisitions. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. FS Investments assumes no obligation to update or revise any such forward-looking statements except as required by law. These forward-looking statements are not guarantees of future performance or results and involve known and unknown risks.