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James Brown Appointed to the Board of Franklin Square BDC

FS Investment Corporation III, a publicly registered non-traded business development company sponsored by Franklin Square Capital Partners, appointed James Brown to serve as an independent member of the board of directors.

Brown was appointed to serve for a term expiring at the company’s 2016 annual meeting of stockholders. With his appointment, the size of the board increased to 10 directors, seven of whom will be independent directors.

Brown served as the chief of staff to United States Senator Robert Casey, Jr. (D-PA) from January 2007 to February 2016. Before joining Senator Casey’s staff, he was a founding partner of SCP Private Equity Partners from 1996 to 2006 and a managing director of CIP Capital, a private equity firm, from 1994 to 2006.

He has been appointed as a director of a number of companies, both publicly and privately held, and has previously served as chairman of the board of directors of TMG Health Inc. and AirNet Communications Corporation.

Brown was also a trustee of the Pennsylvania State Employees’ Retirement System, the Pennsylvania Public School Employees’ Retirement System, a chairman of the Finance Committee of the Pennsylvania Housing Finance Agency, and the chief of staff to Pennsylvania Governor Robert Casey from 1989 to 1994.

Throughout his career, Brown has had a strong interest in education especially for disadvantaged children. He was a trustee of the Gesu School (a grade school in North Philadelphia) from 1995 to 2006, a founding trustee of the Young Scholars Charter School from 2000 to 2006, also in North Philadelphia, chairman of the board of directors of the Pennsylvania State System of Higher Education Foundation from 2005 to 2006, and a trustee of Immaculata University from 2004 to 2006.

Brown taught as an adjunct professor in Villanova University’s undergraduate honors program from 1991 to 2005. He was appointed to become a member of the board of managers of the Milton Hershey School and the board of directors of the Hershey Trust Company in February 2016.

Brown received a bachelor’s degree from Villanova University and a juris doctorate from the University of Virginia School of Law.

FSIC III focuses primarily on investing in the debt securities of private companies throughout the United States. FSIC III is advised by FSIC III Advisor, an affiliate of Franklin Square, and is sub-advised by GSO / Blackstone Debt Funds Management, an affiliate of GSO Capital Partners LP (“GSO”).

Franklin Square is a manager of alternative investment funds and introduced the industry’s first non-traded business development company. As of September 30, 2015, the firm managed approximately $17 billion in total assets, including $15.7 billion in BDC assets, making it the largest manager of BDCs.

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