FS KKR Capital (NYSE:FSK) Corp is a closed-end management investment company that operates as a business development company (BDC) under the Investment Company Act of 1940. The firm seeks to provide customized debt and equity solutions to U.S. middle-market companies. By offering a range of financing structures—including first-lien senior secured loans, second-lien debt, mezzanine financing and equity co-investments—FS KKR Capital supports corporate growth, recapitalizations and buyouts across diverse industries.
Since its initial public offering in 2013, FS KKR Capital has focused on building a portfolio of predominantly senior secured debt investments in companies with revenues typically between $50 million and $1 billion. The company targets sectors such as healthcare, business services, telecommunications, consumer products and energy. Its flexible mandate allows it to allocate capital opportunistically, with a view toward generating attractive risk-adjusted returns while managing downside protection through collateral coverage and covenant structures.
FS KKR Capital is externally managed by FS KKR Advisor LLC, a joint venture between FS Investments and KKR Credit, combining KKR’s global private markets platform with FS Investments’ distribution capabilities. Investment decisions are made by a dedicated team of credit professionals who leverage KKR’s deep sector expertise and FS Investments’ operational support. The advisory board includes representatives from both sponsors, ensuring alignment of interests and oversight of portfolio risk and performance.
Headquartered in New York City, FS KKR Capital primarily serves U.S. borrowers, with occasional participation in Canadian and select international transactions. The company’s governance framework is designed to uphold rigorous underwriting standards, robust compliance processes and transparent reporting. Through its partnership structure, FS KKR Capital aims to deliver consistent income and capital appreciation for its shareholders over the economic cycle.
