The Fill: June 2023
A letter from our CEO
Our summer at FS Investments is off to a strong start, and I hope the same is true for you. We started with the SCALE Global Summit late last month. We were proud to sponsor SCALE, which convened global political leaders, world-class innovators and top investors. SCALE provided all those who attended an opportunity to learn from some of the most provocative thought leaders around the world and network with other top investment and wealth management professionals. I enjoyed spending time with many of our clients and hope those who attended found SCALE to be as informative and productive as I did. For those of you who could not attend, we certainly hope you can join us next year.
We expect that this summer will also mark the commencement of our partnership with Portfolio Advisors. As you may recall, we announced earlier this year that FS Investments and Portfolio Advisors have agreed to combine to create a $75 billion alternative investment firm.
All of us at FS Investments are excited. We have long believed all investors should have access to private equity and other private markets investments, and we are proud?to partner with Portfolio Advisors to provide diversified investment solutions to the broader market. FS Investments and Portfolio Advisors are committed to helping financial advisors and other investment professionals build better portfolios.
I wish you all a productive and enjoyable summer with family and friends.?
—?Michael Forman, Chairman + CEO
Get filled in on...?
Co-Heads of Distribution Kirsten Pickens and Ryan Robertson share their conversation with Lara Rhame , Chief U.S. Economist at FS Investments. Lara shares how she landed her first job with the Fed and pivoted to a career on Wall Street and, later, FS Investments.
In his latest strategy note, Chief Market Strategist Troy Gayeski offers a breakdown of multi-strategy investing opportunities in the current market. He explores what’s beneath the hood in a select group of daily liquid multi-strategy solutions—the ultimate expression of democratized alternatives. The time for the RIGHT alts is STILL now!
The commercial real estate market is undergoing a painful correction, as demonstrated by declining property values and tepid investment activity. In this chartbook, we analyze the causes, address concerns around debt financing and examine what comes next.
Our chart of the week provides timely insight into the performance of the U.S. economy and stock market. Despite the significant headline risk, CRE fundamentals continue to be quite stable. Last week’s chart looks at vacancy rates across property types.
FS Investments in the media
Our CEO Michael Forman and the FSCO team had the opportunity to ring the NYSE opening bell with some great Philly spirit.
Our Chief U.S. Economist recently joined Tom Keene and Lisa Abramowicz to share her take on recent tech earnings and the impact they may have on the economy and markets.
Our Chief Market Strategist recently joined Jonathan Ferro and Michael McKee to discuss the current state of markets and share alternative opportunities.
领英推荐
Fulfilling acts?
The future business leaders of Philadelphia gathered at our headquarters in Philadelphia to pitch their business ideas at Philadelphia Financial Scholars’ Citywide Final Business Pitch Competition.
FS Heroes, which supports the veteran community at FS Investments, hosted a therapy dog event in April. The event featured a brief presentation from FS Heroes Chair, Bill Mann, and Drexel Therapy Dog Coordinator, Janine Erato, on the purpose and use of therapy dogs. Attendees met therapy dogs, created dog beds and braided dog toys to be donated to a local shelter.
As part of this event hosted by USO of Pennsylvania and Southern New Jersey, three of our employee resource groups built care packages and made cards for service members and spouses who are expecting or recently had a baby.
Morgan Stanley recently announced their Equity Collective experienced a successful first year. We’re proud to be a part of this diversity-driven collaboration.
Weekly fill’er up
The FireSide podcast : Tap into unconventional perspectives from our very own thought leaders and research experts.
Chart of the week : A collection of charts published each week using economic data to address timely market topics.
Market minute : Start receiving a weekly analysis from our Investment Research team.
Have a minute?
Thank you in advance for your time and interest in what's happening at?FS?Investments .?
We want you to be satisfied with the quality + frequency of the correspondence we send to you.?Subscribe ?for new or different content.
An investment in any fund sponsored by FS Investments involves a high degree of risk and may be considered speculative. Investors are advised to consider the investment objectives, risks, and charges and expenses of the applicable fund carefully before investing. For funds offering shares to new investors, the applicable fund’s prospectus contains this and other information. Investors may obtain a copy of the applicable fund’s prospectus free of charge at?www.fsinvestments.com ?or by phone at?877-628-8575?for FS interval funds and closed-end funds or?877-924-4766?for FS mutual funds. Investors should read and carefully consider all information found in the applicable fund’s prospectus and other reports filed with the U.S. Securities and Exchange Commission (SEC) before investing.
This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein.?An offering is made only by a prospectus, which must be made available to you in connection with any offering.?No offering is made to New York investors except by a prospectus filed with the Department of Law of the State of New York.
Individual investors and endowments may have different investment horizons, liquidity needs and risk tolerances. In addition, fees that may be incurred by an investor in any of the funds sponsored by FS Investments may be different than fees incurred by an endowment investing in similar assets as those in which the funds invest.
Forward-Looking Statements and Important Disclosure Notice:?This announcement may contain certain forward-looking statements, including statements with regard to future events or future performance or operations of FSK and FSCO (the “Funds”). 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. Factors that could cause actual results to differ materially include changes in the economy, risks associated with possible disruption in the Funds’ operations or the economy generally due to terrorism, geo-political risks, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in the Funds’ respective operating area and the price at which shares of FSK’s or FSCO’s common stock trades on the New York Stock Exchange. Some of these factors are enumerated in the filings FSK and FSCO make with the SEC. The Funds undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This publication contains summaries of certain financial and statistical information about the Funds. The information contained in this publication is summary information that is intended to be considered in the context of FSK’s and FSCO’s SEC filings and other public announcements that FSK and FSCO may make, by press release or otherwise, from time to time. The Funds undertake no duty or obligation to update or revise the information contained in this publication. In addition, information related to past performance, while helpful as an evaluative tool, is not necessarily indicative of future results, the achievement of which cannot be assured. Investors should not view the past performance of FSK or FSCO, or information about the market, as indicative of future results.
FS Investment Solutions, LLC | 201 Rouse Boulevard | Philadelphia, PA 19112
? 2023?FS Investments