PHILADELPHIA, PA — FS Investments has announced an increase in the distribution rate for FS Credit Income Fund across all share classes. This change will take effect with the monthly distribution payment around June 30, 2024.
The FS Credit Income Fund is an alternative credit strategy managed by GoldenTree Asset Management. GoldenTree, an employee-owned asset management firm, oversees approximately $55 billion in assets and has a track record spanning over 23 years.
The annualized distribution rate for Class I shares will rise to about 8.54%, based on the net asset value per share as of May 31, 2024. This represents a roughly 9% increase in the distribution rate for Class I shares. It marks the third distribution rate hike since April 2023, culminating in a total increase of 41% during that period.
“Our goal at FS Investments is to offer innovative alternative investment solutions for diversified portfolio construction. We are pleased to deliver enhanced income to our shareholders through this third distribution increase,” said Michael Forman, Chairman and CEO of FS Investments.
Lee Kruter, Partner and Head of Performing Credit at GoldenTree, added, “GoldenTree has consistently delivered top quartile performance over nearly 25 years across its opportunistic credit strategies. Through active and dynamic management of the FS Credit Income Fund, we are well-positioned to continue delivering differentiated performance with a high degree of current income.”
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.