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Franklin Square Provides $260 Million Loan to New Mountain Capital

Franklin Square Capital Partners, a leading sponsor of non-traded business development companies and other alternative investment funds, originated a $260 million unitranche term loan to support the acquisition and combination of Trover Solutions Inc. and Equian LLC by New Mountain Capital LLC, a New York-based alternative investments firm that manages approximately $15 billion of private equity, public equity and credit assets.

The financing was provided by FS Investment Corporation (NYSE: FSIC), FS Investment Corporation II, and FS Investment Corporation III, three business development companies managed by affiliates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Management LLC, an affiliate of GSO Capital Partners LP.

“Our investment in Trover and Equian demonstrates our ability to provide portfolio companies and financial sponsors customized credit solutions quickly and efficiently without concern for syndication risks or delays,” said Michael C. Forman, chairman and chief executive officer of FSIC, FSIC II and FSIC III.

Equian is a payment integrity platform focusing on the healthcare and property & casualty insurance industries. Trover is an independent vendor of cost containment services and software to the private healthcare payer and property & casualty insurance industries.

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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