PHILADELPHIA, Sept. 6, 2016 /PRNewswire/ -- 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 (NYSE: FSIC), 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.
ABOUT FS INVESTMENTS
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. The firm is dedicated to setting industry
standards for investor-centric service, education and
transparency.
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. Its affiliated broker-dealer, FS Investment
Solutions, LLC (member FINRA/SIPC), distributes its offerings.
Visit fsinvestments.com to learn more.
Contact Information:
FS Investments Media Team
media@fsinvestments.com
215-495-1174
Dominic Mammarella
Investor Relations
dominic.mammarella@fsinvestments.com
215-220-4280
ABOUT BLACKSTONE AND GSO
Blackstone is one of the
world's leading investment firms. We seek to create positive
economic impact and long-term value for our investors, the
companies we invest in, and the communities in which we work. We do
this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses,
with over $350 billion in assets under management,
include investment vehicles focused on private equity, real estate,
public debt and equity, non-investment grade credit, real assets
and secondary funds, all on a global basis. Further information is
available at www.blackstone.com. Follow Blackstone on
Twitter @Blackstone.
GSO Capital Partners LP is the global credit investment platform
of Blackstone. With approximately $85 billion of assets under
management, GSO is one of the largest alternative managers in the
world focused on the leveraged-finance, or non-investment grade
related, marketplace. GSO seeks to generate attractive
risk-adjusted returns in its business by investing in a broad array
of strategies including mezzanine debt, distressed investing,
leveraged loans and other special-situation strategies. Its funds
are major providers of credit for small and middle-market companies
and they also advance rescue financing to help distressed
companies.
Forward-Looking Statements and Important Disclosures
This press release may contain certain forward-looking statements,
including statements with regard to the future performance or
operations of FSIC, FSIC II, FSIC III, and FSIC IV. Words such as
"believes," "expects," "projects" and "future" or similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements, and some of these
factors are enumerated in the filings FSIC, FSIC II, FSIC III, or
FSIC IV make with the U.S. Securities and Exchange Commission.
FSIC, FSIC II, FSIC III, or FSIC IV undertake no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE FS Investments