Dive Brief:
- Franklin Square Capital Partners, the largest manager of business development companies (BDCs), announced that three of its BDCs will provide a $52.5 million second lien loan to National Surgical Healthcare (NSH).
- The financing was provided by FS Investment Corporation, FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III).
- The financing will support NSH's acquisition of a majority interest in Optim Healthcare and NSH's acquisition of additional equity ownership in one of its existing surgical facilities.
Dive Insight:
"The lending capacity across our BDCs makes it possible to tailor financing for strong middle market companies like National Surgical Healthcare," Michael C. Forman, Chairman and Chief Executive Officer of FSIC, FSIC II and FSIC III, said in a statement.
Franklin Square is a leading manager of alternative investment funds designed to enhance investors' portfolios by providing access to asset classes, strategies and asset managers that typically have been available to only the largest institutional investors. The firm's funds offer "endowment-style" investment strategies that help construct diversified portfolios and manage risk.