Combined company manages over $75 billion in assets and a broad suite of alternative strategies for institutional and individual investors
FS MVP Private Markets Fund to bring Portfolio Advisors' private markets platform to individual investors
PHILADELPHIA and DARIEN, Conn., June 30, 2023 /PRNewswire/ -- FS Investments, a pioneer in the democratization of alternative investments, and Portfolio Advisors, a global middle-market private asset specialist, today announced they have closed the transaction to combine their firms and create a $75 billion alternative asset manager.
"I am delighted to complete our combination with Portfolio Advisors and welcome our new colleagues," said Michael Forman, Chairman and CEO of FS Investments. "I look forward to bringing Portfolio Advisors' investment expertise across private equity, credit, and real estate to our platform. As a combined firm, we will be able to offer institutional and individual investors access to a truly diversified suite of alternative asset classes and strategies managed by our best-in-class investment teams and partners."
"We are excited to join forces with FS Investments and look forward to leveraging our complementary investment and product development capabilities," added Brooks Lindberg, Managing Director at Portfolio Advisors. "Our combined platform is well positioned to deliver comprehensive solutions to our institutional and wealth management clients around the globe."
The combined firm also announced its first joint initiative to grow the FS MVP Private Markets Fund, an SEC-registered private equity fund focused on the U.S. middle market. With approximately $600 million in assets as of May 31, 2023, the fund offers access to a range of high-quality sponsors that Portfolio Advisors believes to be among the "MVPs" of the middle market, through a broadly diversified portfolio built primarily on direct and secondary investments.
Forman added, "Our wealth management clients have long expressed interest in greater access to private equity and other private markets solutions. We are pleased to bring the FS MVP Private Markets Fund, a diversified solution that seeks to deliver the best of what Portfolio Advisors offers, to our clients and the broader market. We think funds like FS MVP will be the next significant growth area for wealth managers, providing both return and diversification potential for client portfolios. We see many more growth opportunities across the Portfolio Advisors platform and look forward to delivering them to our clients over time."
Michael Forman will serve as Chairman and CEO of the combined firm, which will be led by a Management Committee with representatives from both FS Investments and Portfolio Advisors. Its members will include Forman, Enrico Gaglioti and Mike Kelly, Co-Presidents of FS Investments, and Brooks Lindberg and Elizabeth Campbell, Managing Directors at Portfolio Advisors.
About FS Investments
FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions. The firm manages over $75 billion in assets for a wide range of clients, including institutional investors, financial professionals and individual investors. FS Investments provides access to a broad suite of alternative asset classes and strategies through its best-in-class investment teams and partners. With its diversified platform and flexible capital solutions, the firm is a valued partner to general partners, asset owners and portfolio companies. FS Investments is grounded in its high-performance culture and guided by its commitment to building value for its clients, investing in its colleagues and giving back to its communities. The firm has more than 500 employees across offices in the U.S, Europe and Asia and is headquartered in Philadelphia.
Ryan McDougald / Elizabeth Lake (FGS Global)
Portfolio Advisors Client Relations
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 FS MVP Private Markets Fund. 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 the Fund makes with the U.S. Securities and Exchange Commission. The Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This is neither an offer to sell nor a solicitation to purchase any security. Investors should carefully consider the investment objectives, risks, charges and expenses of FS MVP Private Markets Fund. This and other important information about the Fund are contained in the prospectus, which can be obtained by visiting www.fsinvestments.com. Please read the prospectus carefully before investing.
ALPS Distributors, Inc 1290 Broadway, Suite 1000 Denver, CO 80203 is the distributor of the FS MVP Private Markets Fund. The Fund and ALPS Distributors, Inc are not affiliated.
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SOURCE FS Investments