PA Co-Investment V Final Close Announcement

Whats Happening:

Portfolio Advisors, LLC, an affiliate of FS Investments, has successfully closed its fifth co-investment fund, PA Co-Investment Fund V (PCIF V), with total commitments of $622 million. The fund exceeded its $600 million target and received support from a diverse group of investors including pension funds, insurance companies, foundations, endowments, family offices, and high net worth individuals from both the U.S. and abroad.

Key Moves:

• PCIF V closed with $622 million in total commitments, exceeding $600 million target

• Fund has committed approximately 65% of its capital to 20 portfolio companies

• Strategy focuses on partnering with top-tier private equity sponsors for U.S. mid-market investments

By The Numbers:

• PCIF V raised $622 million, exceeding $600 million target

• Fund has committed 65% of capital to 20 portfolio companies

• Portfolio Advisors' direct equity team has invested over $1.9 billion in 130+ mid-market companies over 17 years

Key Quotes:

• "We are extremely grateful for the show of support from both our existing and new investors, demonstrating strong demand for equity co-investment solutions and exposure to market-leading companies backed by high-quality sponsors," said Adam Clemens.

• "Our successful fundraise is a testament to the strength of the Portfolio Advisors' co-investment program. We look forward to continuing to deliver attractive risk-adjusted returns to our investors by leveraging our deep sponsor relationships and over a decade of experience in co-investing in the U.S. mid-market," said Benjamin Hur.

Bottom Line:

Portfolio Advisors' successful closing of PCIF V at $622 million demonstrates strong investor demand for equity co-investment solutions in the U.S. mid-market. With 65% of capital already committed and a proven track record, the fund is well-positioned to continue delivering attractive returns by partnering with top-tier private equity sponsors.

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