FS Energy and Power Fund (FSEP), a business development company (BDC) focused primarily on investing in the debt and income-oriented equity securities of privately-held U.S. companies in the energy and power industry, announced its operating results for the quarter ended September 30, 2015.
Without sufficient credit, it is tough for businesses to grow, said Michael Forman, CEO of Franklin Square Capital Partners, particularly when the macroeconomic environment remains shaky. In Europe, banks, which traditionally have dominated corporate lending , are still struggling with the many non-performing loans on their balance sheets, and increased regulation imposed by Basel III is making it harder for them to extend credit.
FS Global Credit Opportunities Fund gives investors access to global corporate debt.
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.
FS Energy and Power Fund (“FSEP”) successfully satisfied its minimum offering requirement of $2.5 million in offering proceeds raised from persons not affiliated with FSEP or its investment adviser, and admitted its initial public investors as shareholders.