Summary

FS/KKR Advisor, LLC, a partnership between FS Investments and KKR Credit Advisors (US) LLC (FS/KKR), announced a definitive agreement to merge FS Investment Corporation II (FSIC II), FS Investment Corporation III (FSIC III), FS Investment Corporation IV (FSIC IV) and Corporate Capital Trust II (CCT II) to create the second-largest business development company, with approximately $9 billion in assets on a pro forma basis as of June 30, 2019.

The mergers are part of a proposed three-step plan toward a liquidity event for all shareholders, including a recapitalization of the combined company through the issuance of preferred stock representing approximately 20% of the combined company’s net asset value to all non-traded shareholders of the combined company followed by a listing of the combined company’s common shares on the New York Stock Exchange.

Your vote FOR for the proposals will help ensure:

  • The mergers close by year-end so the combined company’s common shares may be listed on the NYSE by the end of Q1 2020*
  • Shareholders of each fund receive shares of the combined company equal in value
  • Shareholders own a more diversified portfolio
  • The ability for the combined company to create operational synergies

*A listing is subject to market conditions and board approval.

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