Dechert Steers $15B Tie-Up Of FS KKR Biz Development Cos.

Law360 (November 24, 2020, 1:52 PM EST) -- Business development companies FS KKR Capital Corp. and FS KKR Capital Corp. II said Tuesday they plan to merge into a single entity with about $14.9 billion in assets under management, a deal arranged with help from Dechert LLP.

The merger would create one of the U.S.'s largest business development companies, according to the announcement. Business development companies are vehicles that raise capital in order to invest in small to midsize companies that lack access to public markets and traditional financing.

"The merger of [FS KKR Capital] and [FS KKR Capital II] represents a significant step toward our long-term strategic goal...

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