FS Energy and Power Fund
FSEN
Other OTC- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Michael Craig Forman
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 201 Rouse Boulevard Philadelphia PA United States of America 19112
- IPO Date
- Apr 6, 2017
- CIK
- 0001501729
- Website
- fsinvestments.com
- Similar Companies
- Business
- FS Energy and Power Fund (ticker: FSEN), now operating as FS Specialty Lending Fund (ticker: FSSL), is a closed-end fund and former business development company that invests primarily in a diversified portfolio of private and public credit instruments, including secured and unsecured floating- and fixed-rate loans, bonds, and other debt securities; senior secured debt; and, to a lesser extent, equity securities. The fund targets middle-market companies across various industries and sectors, with approximately 87% of its portfolio in senior secured debt and a focus on generating current income through quarterly distributions supplemented by long-term capital appreciation. It maintains a reduced exposure to legacy energy and power investments, now comprising about 12% of the portfolio, following a strategic transition from its original emphasis on private U.S. energy and power companies. Founded in 2011 and headquartered at 201 Rouse Boulevard, Philadelphia, Pennsylvania, the fund is advised by FS/EIG Advisor, LLC, a subsidiary of FS Investments, and operates primarily in the United States with investments in U.S.-based companies. It closed to new investors in November 2016 and provides liquidity through quarterly tender offers, reporting via Form 1099-DIV . The fund's net asset value stood at $3.30 per share as of December 31, 2024, with cumulative total returns since inception of -14.86% and ongoing quarterly distributions, such as $0.0821 per share as of December 19, 2024. In recent major changes, the fund completed a reorganization on October 28, 2025, converting from a non-traded business development company into a registered closed-end fund under the Investment Company Act of 1940 via a merger into a new entity, and renamed from FS Energy & Power Fund to FS Specialty Lending Fund on September 29, 2023, to reflect its diversified credit strategy. It executed a 1-for-6 reverse stock split in May 2025 to meet NYSE listing standards, listed its common shares on the New York Stock Exchange under ticker FSSL on November 13, 2025, and obtained SEC exemptive relief in Q4 2024 to co-invest in privately originated deals with other FS Investments funds, facilitating $357 million in purchases during Q1 2025, 89% of which were co-investments. The fund plans to reduce management and incentive fees post-listing, implement monthly distributions by January 2026 at a 9-9.5% annualized rate, and continue divesting legacy energy holdings, such as exchanging its Maverick Natural Resources position for cash and Diversified Energy PLC shares in Q1 2025.