FS Investments

Name

FS Investments

Legal name

FS Investment Solutions, LLC

Website

https://fsinvestments.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Private Markets Fund of Funds (PE / VC / Private Credit FoF) (FSAHAKAF)

Keywords

• Alternative asset management
• Private equity funds
• Private credit investing
• Middle market lending
• Institutional investment management

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: FS Investments generates revenue through management fees and performance fees charged on alternative investment products including private equity funds, credit funds, real estate funds, infrastructure funds, and multi-asset strategies. The firm manages $94 billion in assets across multiple investment platforms.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

FS Investments (operating as Future Standard) is a private asset management firm that designs, distributes, and manages alternative investment products focused on the U.S. middle market. It offers investors access across private equity, credit, real estate, infrastructure, and multi-asset strategies through fund vehicles such as interval funds, closed-end funds, and a business development company (BDC). The firm manages $94 billion in assets as of March 2026 and reaches clients through financial advisors and institutional channels.

Product overview

FS Investments (operating as Future Standard) is an investment management firm with $94 billion in assets under management offering a diversified suite of private markets investment products. The company provides access through multiple fund structures including interval funds, closed-end funds, and a business development company (BDC). Key products include the FS MVP Private Markets Fund (single-entry private equity platform), FS Credit Income Fund and FS Credit Opportunities Corp. (credit strategies), FS Credit Real Estate Income Trust (real estate), FS Multi-Strategy Alternatives Fund (multi-asset hedge strategies), and FS KKR Capital Corp. (KKR-partnered BDC). These products are distributed to private wealth clients and institutional investors through financial advisors, with one fund (FS Specialty Lending Fund) also available. The firm operates primarily in the U.S. middle market across private equity, credit, real estate, infrastructure, and multi-asset asset classes.

Differentiator

Problem solved

Functional benefit

Brands

• FS Credit Opportunities Corp. Listed credit opportunities investment vehicle
• FS Specialty Lending Fund
• FS KKR Capital Corp.
• FS MVP Private Markets Fund
• FS Credit Income Fund
• FS Credit Real Estate Income Trust
• FS Multi-Strategy Alternatives Fund

Products and services

• FS MVP Private Markets Fund A private markets fund providing single-entry access to direct, secondary, and primary investments across buyout, venture capital, growth equity, and special situations in the U.S. middle market. It is offered to private wealth clients and institutional investors through financial advisors.
• FS Credit Income Fund A credit fund offering tailored financing solutions to fuel growth of private U.S. middle market companies across senior, junior, opportunistic, and liquid credit strategies.
• FS Credit Opportunities Corp. A credit opportunities closed-end fund providing access to diversified private credit investments with a focus on income generation and capital appreciation.
• FS KKR Capital Corp. A business development company (BDC) that provides capital to U.S. middle market companies, managed in partnership with KKR.
• FS Specialty Lending Fund A specialty lending fund focused on providing financing solutions to middle market companies.
• FS Credit Real Estate Income Trust A real estate income trust delivering debt and equity capital solutions tailored to sponsor and borrower needs in commercial real estate.
• FS Multi-Strategy Alternatives Fund A multi-strategy alternatives fund dynamically investing across equities, credit, commodities, and currencies using direct and hedge fund strategies to seek strong risk-adjusted returns.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• StepStone Group: Public private markets solutions provider focused on building multi-manager exposure for institutional and private wealth clients; comparable to FS Investments' multi-strategy private markets fund and FoF-style offerings.
• Ares Management: Public alternatives manager with a credit-led platform serving U.S. middle market borrowers; directly comparable in credit strategies, BDC structures, and advisor/institutional distribution channels.
• Hamilton Lane: Public private markets specialist focused on building diversified exposure across primary, secondary, and co-investments; comparable to FS MVP Private Markets Fund and co-named in the PSERS litigation, reflecting similar client mix.
• KKR & Co. Global alternatives manager with substantial private equity and credit AUM; directly comparable as an institutional and advisor-distributed alternatives platform and a named partner of FS Investments through FS KKR Capital Corp.
• Blue Owl Capital: Public alternatives manager with significant private credit and GP-staking franchises distributed to advisors and institutions; directly comparable in middle-market direct lending and interval fund structures.

Broad incumbents

• Blackstone: Largest publicly listed alternatives manager, offering private equity, credit, real estate, and multi-asset products distributed to advisors and institutions; competes directly across all of Future Standard's asset classes at greater scale.
• Brookfield Asset Management: Public alternatives manager with sizable credit, real estate, and infrastructure franchises; comparable in real estate, infrastructure, and multi-asset strategies and institutional distribution.
• Apollo Global Management: Public alternatives manager with significant credit and private equity franchises; directly comparable product mix (credit-led, private equity, real estate) and similar advisor/institutional distribution.
• TPG Inc. Public alternatives manager with private equity, credit, and real estate products distributed to institutional and private wealth clients; comparable multi-strategy alternatives platform.
• Carlyle Group: Global alternatives manager with private equity, credit, and real estate franchises serving institutional and advisor channels; comparable multi-asset alternatives platform with similar product wrappers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/futurestandard_
• LinkedInlinkedin.com/company/futurestandardfs

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FS Investments