other_material
confidence high
sentiment positive
materiality 0.75
FS Specialty Lending Fund targets NYSE listing as closed-end fund; plan details released
FS Specialty Lending Fund
- 6-for-1 reverse share split completed May 15; target NYSE listing under ticker FSSL by Q4 2025, subject to shareholder vote.
- Base management fee reduced from 1.75% to 1.50% of gross assets, plus 0.15% waiver, for effective 1.35% upon listing.
- Adviser will waive capital gains incentive fee; income incentive fee cut from 20% to 10% with 6% hurdle upon listing.
- Q2 2025 enhanced quarterly distribution at 12.5% annualized on NAV; post-listing target 9.0%–9.5% annualized on NAV.
- FS Investments to acquire EIG's stake in Adviser; quarterly repurchase offers suspended until listing.
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