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FS Investments Closes on Over $1.1B of Middle Market Commitments in Q2

September 18, 2017, 07:29 AM
Filed Under: Industry News

FS Investments, an alternative investment manager and the largest manager of business development companies (BDCs), announced that its BDC direct lending platform committed more than $1.1 billion in senior secured loans and other debt and equity financing to middle market companies in the second quarter of 2017. The directly originated investments supported five new portfolio companies and provided financing to several existing portfolio companies during the quarter.

The commitments were provided by five BDCs managed by affiliates of FS Investments and sub-advised by GSO Capital Partners LP (GSO) or its affiliates: FS Investment Corporation, FS Investment Corporation II (FSIC II), FS Investment Corporation III (FSIC III), FS Investment Corporation IV (FSIC IV) and FS Energy and Power Fund (FSEP).

FS Investments' directly originated transactions, which are unique to its BDCs and not typically accessible elsewhere, included investments in the following companies in the second quarter:

Actian Corp. (Actian)
FSIC, FSIC II, FSIC III and FSIC IV provided a new senior secured unitranche loan to Actian Corp. to refinance existing debt. Based in Palo Alto, CA, Actian is a leading provider of hybrid data management and integration solutions for mission-critical enterprise applications.

Imperial Dade (Dade)
FSIC, FSIC II, FSIC III and FSIC IV provided a new senior secured unitranche loan to support the acquisition of Dade Paper by Imperial Bag & Paper. The combined company, Imperial Dade, is a leading independent distributor of food service disposables and janitorial supplies on the East Coast.

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