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.

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

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.

With traditional measures of equity valuations near historic highs, we introduce free cash flow as an alternative basis for valuation.