FS Investments, a leading alternative asset manager with more than $20 billion in assets under management, today announced the promotion of the firm's Chief Investment Officer, Mike Kelly. Effective immediately, Mr. Kelly will become President while also remaining Chief Investment Officer.

In his expanded role, Mr. Kelly will continue to serve on the firm's Executive Committee, oversee investment management and product development, and in addition will now direct FS's capital markets, due diligence, investment research and investor relations functions.

"Mike has been an important part of our growth and success since joining us, and we are excited to name him President as he expands his role," said Michael C. Forman, Chairman and CEO of FS Investments. "We will benefit from Mike's broader oversight and his work on some of our most critical initiatives as we continue pursuing our mission to build a complete suite of investment options that help investors access alternative sources of income and growth."

"I'm proud of our mission and appreciate the opportunity to help lead this great organization," added Mr. Kelly. "We have assembled a group of incredibly dedicated colleagues and I look forward to continuing to work with them as we expand our offerings and our distribution."

Mr. Kelly has over 25 years of experience in asset management. Prior to joining FS Investments, he was Chief Executive Officer at ORIX USA Asset Management, and Co-Chief Executive Officer and Chief Investment Officer at FrontPoint Partners. Earlier in his career, he held various positions at Tiger Management, Omega Advisors and Salomon Brothers.

Mr. Kelly holds a BS from Cornell University and an MBA from Stanford University's Graduate School of Business, where he has served as a trustee on the GSB Trust.

ABOUT FS INVESTMENTS 

FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth and focuses on setting industry standards for investor protection, education and transparency.