Strong New Investment Activity
FSK's investment team originated $3.4 billion of investments in the first half of 2025, with $1.4 billion in the second quarter alone. This indicates strong new investment activity despite a slow M&A environment.
Liquidity and Distribution Strategy
FSK maintained strong liquidity, ending the quarter with $3.1 billion available across cash, unsettled trades, and undrawn credit facilities. The company declared a third-quarter distribution of $0.70 per share, in line with the 2025 distribution strategy of totaling $2.80 per share for the year.
Portfolio Diversification and Growth
FSK's portfolio companies reported a weighted average year-over-year EBITDA growth rate of approximately 8%, and nonaccruals related to 91% of the portfolio originated by KKR Credit were lower compared to the industry average.