FSSPA was formed on March 20, 2019, for the purpose of providing collateral
management services to Bridge Street CLO I Ltd (the “Issuer”). On September 2, 2021,
FSSPA became the investment adviser to Bridge Street CLO II, on December 28,
2022, became the investment adviser to Bridge Street CLO III Ltd and on April 26,
2024, became the investment adviser to Bridge Street CLO IV Ltd (together, with Bridge
Street CLO I Ltd, the “Issuers”). The Issuers are the Adviser’s only clients.
The Adviser may, subject to any limitations described in the investment advisory
agreements it enters into with its clients, advise other investment companies, private
investment funds, structured finance vehicles, institutional investors or other persons or
entities (collectively, the “Clients”), at which time the Adviser will make any necessary
amendments to this Brochure.
The Adviser is responsible for identifying potential investments for the Issuers. The
investment professionals of the Adviser have extensive experience in secured lending
and high yield securities, including senior loans, asset-based lending, structured
finance, fixed income securities, and distressed debt. The Adviser incorporates a
sophisticated platform with an experienced team of investment professionals to identify
opportunities in such assets, while at the same time assessing and monitoring risk. The
Adviser evaluates such investments and their appropriateness based on the Issuers’
respective investment objectives, strategies, restrictions, and guidelines, as described in
the Issuer’s governing documents (e.g., offering circulars
and indentures). Because the
Adviser does not provide individualized advice to investors (and an investment in an
Issuer does not, in and of itself, create an advisory relationship between the investor
and the Adviser), investors must consider whether a particular Issuer meets their
investment objectives and risk tolerance prior to investing.
The Adviser is a subsidiary of Franklin Square Holdings, L.P. (“FSH”). FSH is the
primary owner of the Adviser. The Adviser is also an affiliate of FS Global Advisor, LLC
(“FSGA”), FS Tactical Advisor, LLC (“FSTA”) and certain other investment advisers
affiliated with FSH. FSGA is the registered investment adviser to FS Credit
Opportunities Fund (“FSCO”), a closed-end investment company that focuses on
investing in secured and unsecured floating and fixed rate loans, bonds, and other
credit instruments.
As of December 31, 2023, FSCO had approximately $2.086 billion in assets under
management. FSTA provides advisory services to FS Tactical Opportunities Fund, L.P.,
a private fund designed to build an investment portfolio of capital structured solutions
and special situations credit investments primarily in North America. Investment
professionals of the Adviser, including certain of its portfolio managers, also make
investment decisions for FSGA and FSTA.
As of December 31, 2023, the assets under management for Bridge Street CLO I are
$325,630,427, the assets under management for Bridge Street CLO II are
$325,123,708, and the assets under management for Bridge Street CLO III are
$329,169,520; such assets are managed on a discretionary basis.