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Another Executive Hire for Franklin Square

Franklin Square announced today that it has a new Executive Vice President and Chief Investment Officer. The sponsor of alternative investment funds well known for pioneering the industry’s first non-traded business development company (BDC), has hired Michael Kelly to direct its investment management and product development teams.

Chairman and CEO of Franklin Square Michael Forman commented, “Mike brings us deep experience in investment management, product development and business development in a career spanning more than 20 years with some of the most innovative asset management firms. We are delighted he is joining our growing firm as CIO.”

Kelly most recently served as CEO of ORIX USA Asset Management overseeing the acquisition of Robeco, a$250 billion global asset management company. The alumnus of Cornell (undergrad) and Stanford (graduate) kicked off his career on Wall Street working for Salomon Brothers and eventually spent time at Omega Advisors and Tiger Management, two pioneers of the hedge fund industry.

“I am extremely excited to join Franklin Square and look forward to being a part of a team that is transforming the alternatives industry with innovative funds, industry leading best practices and strong performance,” said Kelly. “My new colleagues have built a great firm in a relatively short period of time and we will build on that momentum.”

The Philadelphia-based Franklin Square manages $13.6 billion in assets as of September 30, 2014. The company’s first non-traded BDC, FS Investment Corporation, launched in 2009 and has already provided liquidity to investors. It listed on the NYSE under the symbol “FSIC” on April 14, 2014.