FS KKR Capital Corp

# FS KKR Capital Corp

Headquartered in Philadelphia, FS KKR Capital Corp. is a business development company that originates and manages debt investments in private middle-market U.S. companies. The firm specializes in customized credit solutions, with a primary focus on senior secured loans to established private companies. Its investment approach includes primary market originations directly from target companies as well as secondary market purchases of existing loan interests.

The company targets private upper middle-market firms with annual EBITDA between $50 million and $150 million or greater at the time of investment, typically those with annual revenues ranging from $10 million to $2.5 billion. Beyond debt securities, FS KKR Capital also receives equity interests such as warrants and options as additional consideration on debt investments, and opportunistically acquires minority equity stakes either alongside debt investments or through co-investments with financial sponsors. The firm maintains a disciplined investment approach, avoiding early-stage ventures, turnarounds, and speculative business plans.

Exit strategies for investments include secondary market sales, loan repayment, merger or acquisition activity, initial public offerings, and recapitalizations. The company operates across the United States, focusing exclusively on domestic private middle-market opportunities rather than international markets.