FS Investments Taps Goldman Sachs Exec to Head Sales

FS Investments, an alternative asset manager formerly known as Franklin Square, has hired Steve DeAngelis as executive vice president and head of distribution. DeAngelis will serve on the firm’s executive committee and as president of FS Investment Solutions, FS Investments’ wholly owned broker-dealer subsidiary.

DeAngelis joins the firm as it is expanding distribution into new channels, preparing to launch new investment strategies, and ramping up its advisor and investor education platform.

“Steve DeAngelis has had a long and impressive career in financial services, both as a sales leader and business builder,” said Michael C. Forman, chairman and CEO of FS Investments. “We believe we have just cracked the surface in reaching investors who will benefit from incorporating alternatives in their portfolios and look forward to Steve leading our efforts to reach and help more folks.”

In his most recent role as managing director, head of U.S. Advisor Solutions Group at Goldman Sachs Asset Management, he led distribution of all products and services to registered investment advisors, regional and national wirehouses, and independent broker-dealers. He was also responsible for managing home office relationships, on both the distribution and platform research sides.

Prior to Goldman Sachs, he co-founded and served as president of ADVISORport Inc., a web-based platform for delivering customized managed account services to broker-dealers, banks and third-party RIAs. He also held several senior positions at Delaware Capital Management after starting his career at Brinker Capital Inc.

DeAngelis serves on the advisory council for the Innovation, Creativity and Entrepreneur Center at the Villanova School of Business, and as a board advisor for the Money Management Institute. He earned a bachelor’s degree in business administration from Villanova University and a master’s degree from Duke University’s Fuqua School of Business. He holds the certified investment management analyst designation.

FS Investments, which was founded in 2007 as Franklin Square Capital Partners, is headquartered in Philadelphia with offices in Orlando and Washington, DC. The firm currently manages six funds with more than $18 billion in assets under management as of June 30, 2016, and co-manages an operating company.

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