FS Investments, a leading alternative asset manager with over $35 billion in assets under management, today announced that FS Credit Income Fund will increase its distribution for all share classes. This is effective with the payment of the quarterly distribution on April 3, 2023. FS Credit Income Fund, or the “Fund,” is an alternative credit strategy sub-advised by GoldenTree Asset Management, an employee-owned asset management firm with nearly $50 billion in assets under management and an over 22-year track record.
The annualized distribution rate for Class I shares will increase to 7.52% based on the NAV per Class I share as of March 31, 2023, representing a 17% increase.1 More information regarding the distribution rate increase can be found in the Form 8-K filed on April 4, 2023.
“The higher interest rate environment, coupled with the Fund’s continued strong fundamental performance, has driven our ability to increase the distribution for shareholders,” said Michael Forman, Chairman and CEO of FS Investments. “Amid challenging market conditions, we believe the Fund offers a compelling investment opportunity given its flexibility to adjust asset allocations and strategy across economic cycles.”
Lee Kruter, Partner and Head of Performing Credit at GoldenTree, noted, “We have a long history of delivering top quartile performance to clients with attractive levels of current income. We are excited about the current opportunity set and will continue to leverage our significant experience and robust investment process to help clients meet their portfolio objectives.”
FS Credit Income Fund invests across a broad universe of high-yielding asset classes, sectors and capital structures to capture the best relative value opportunities in event-driven and opportunistic credit to seek to generate an attractive level of income and capital appreciation.
The Fund leverages GoldenTree’s deep credit expertise to invest in performing credit opportunities that are often outside the scope of traditional, liquid strategies and market indexes, including structured credit, non-rated assets, issuers outside of the U.S, and other idiosyncratic opportunities. The Fund’s dynamic and flexible approach capitalizes on dislocations across market environments, driving attractive outperformance to index-constrained credit strategies.
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