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FS Investments Finances Acquisition of Cadence Education

September 07, 2016, 07:18 AM
Filed Under: Education

FS Investments, a leading alternative asset manager, announced the origination of a $120 million senior secured unitranche loan to support investment funds managed by Morgan Stanley Global Private Equity's acquisition of Cadence Education, Inc. Cadence Education is one of the premier providers of early childhood education in the U.S., focusing on the care and curriculum-based education of children between the ages of six weeks and twelve years old. The company's national platform of over 150 schools has the capacity to serve more than 20,000 students across 20 different states.

The senior secured financing was provided by four business development companies (BDCs) managed by affiliates of FS Investments and sub-advised by an affiliate of GSO Capital Partners LP (GSO): FS Investment Corporation, FS Investment Corporation II (FSIC II), FS Investment Corporation III (FSIC III) and FS Investment Corporation IV (FSIC IV).

With approximately $16.5 billion in BDC assets under management as of June 30, 2016, FS Investments is the largest manager of BDCs.

FS Investments is a leading asset manager that designs alternative investments to help institutional, advisory and individual investors build better portfolios. Its solutions provide access to alternative asset classes and top managers through a spectrum of structures, including business development companies, closed-end credit funds and operating companies.

FS Investments was founded in 2007 as Franklin Square Capital Partners. It is headquartered in Philadelphia with offices in Orlando and Washington, DC. The firm currently manages six funds with over $18 billion in assets under management as of June 30, 2016, and co-manages an operating company.

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