Dechert Advises FS/KKR Advisor
November 24, 2020
Dechert is advising FS/KKR Advisor, a partnership between FS Investments and KKR Credit Advisors, in the proposed merger of FS KKR Capital Corp. and FS KKR Capital Corp. II, two publicly traded business development companies (BDCs). The merger would create one of the largest BDCs in the U.S., with $14.9 billion in assets under management, $7.2 billion in net asset value and over $3 billion of committed capital available to new investment opportunities, each on a pro forma basis as of September 30, 2020. The board of directors of FS KKR Capital Corp. and FS KKR Capital Corp. II have unanimously approved the merger. The transaction, announced November 24, 2020, is expected to close during the second or third quarter of 2021, subject to approval by FSK and FSKR shareholders and other customary closing conditions.
The Dechert team includes corporate partners James Lebovitz, Eric Siegel and Steve Pratt, and associates Ross MacConnell, Chris Polisano and Dorothy Hill; antitrust counsel Beverly Ang and associate Samuel Stelk; and tax partner Joe Riley and associate Mansi Seth.
About Dechert
Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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