On November 23, 2020, FS/KKR Advisor announced that FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR) have entered into an agreement to merge the two publicly traded business development companies (BDCs). The proposed merger would create one of the largest BDCs in the U.S., with approximately $16 billion in assets under management.

The Board of Directors recommends that you vote in favor of these proposals as we believe the merger will provide the following benefits to the fund and stockholders:

  • Reduced operating expenses
  • Portfolio diversification
  • Enhanced market visibility as one of the largest BDCs in the market


Voting today will help reduce potential fund costs and avoid the need for future outreach from our proxy solicitor, Broadridge.

The respective shareholder meetings for FSK and FSKR are scheduled for May 21, 2021 and the transaction is expected to close by in the second quarter or early third quarter of 2021, subject to approval by FSK and FSKR shareholders and other customary closing conditions.

Next steps

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