FS Investment Corporation III

FS Investment Corporation III was a non-traded business development company and specialty finance company sponsored by FS Investments. It invested primarily in debt securities of private U.S. middle-market companies, with an emphasis on generating current income and secondarily long-term capital appreciation. The company was externally managed, initially by FSIC III Advisor, LLC, with GSO / Blackstone Debt Funds Management LLC serving as sub-adviser, and later advised within the FS/KKR platform. FS Investment Corporation III was not a biotech, pharma, or healthcare operating company; it was an investment vehicle with broad private credit exposure across industries. On December 18, 2019, it was acquired in a merger led by FS Investment Corporation II, and the combined entity was renamed FS KKR Capital Corp. II.