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Franklin Square Launches New $2.65 Billion BDC

FSIC IV, Franklin Square Capital Partners’ latest non-traded business development company offering, has been declared effective by the Securities and Exchange Commission. The offering seeks to raise up to $2.65 billion in equity via the sale of up to 250 million shares of common stock at $10.60 per share. Currently, only Class T shares, with an upfront load of 2.20 percent, are available. The company is seeking exemptive relief from the SEC to offer additional share classes in the future.

The BDC will invest primarily in the debt securities of private middle-market US companies, with the typical investment objectives of generating current income and, to a lesser extent, long-term capital appreciation.

Franklin Square has again partnered with GSO / Blackstone Debt Funds Management LLC, to act as its investment sub-adviser.

The DI Wire will continue to report on this story as we learn more.

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