Alternative investment manager Franklin Square Capital Partners” (Franklin Square) business development company (BDC) direct lending platform committed over USD370 million to private deals in the first quarter of 2016.
This marks the 14th consecutive quarter the platform has provided more than USD250 million in direct commitments.
New directly originated deals during the quarter were made in support of eight existing portfolio companies headquartered in five different US states.
"Despite credit market volatility this quarter, the flexibility of our funds' structure allowed us to seek out the best risk-adjusted returns for our shareholders by investing where we saw the most compelling opportunities," said Michael C. Forman, Chairman and Chief Executive Officer of Franklin Square. "It was an ideal environment for us to support the growth of our existing portfolio companies and selectively add several attractively priced traded credits."
Newly committed capital was provided by four BDCs managed by affiliates of Franklin Square and sub-advised by GSO Capital Partners LP (GSO) or its affiliate: FS Investment Corporation (NYSE: FSIC), FS Investment Corporation II (FSIC II), FS Investment Corporation III (FSIC III) and FS Energy and Power Fund (FSEP). Franklin Square is the largest manager of BDCs.
