# FS KKR Capital Corp

Summary updated: 2026-10-02T11:23:17.237594Z
Canonical: https://finbar.com/research/companies/fs-kkr-capital-corp

## Overview

FS KKR Capital Corp. (FSK) is a publicly traded business development company in the financial services sector, focused on private credit. It provides financing primarily to private U.S. middle-market companies, principally through senior-secured and second-lien loans. The company originates loans directly and also acquires investments in secondary markets; its portfolio may additionally include subordinated debt, asset-based finance, bonds and equity investments. [1](https://app.finbar.com/go?id=P147519324)

FSK’s principal geographic focus is the United States. At June 30, 2026, its investment portfolio had a fair value of approximately $11.4 billion across 232 portfolio companies. [2](https://app.finbar.com/go?id=T16879269)[3](https://app.finbar.com/go?id=T16879270)
[1](https://app.finbar.com/go?id=P147519324)[2](https://app.finbar.com/go?id=T16879269)[3](https://app.finbar.com/go?id=T16879270)

## Products & services

FS KKR Capital Corp. provides customized credit financing to private U.S. middle-market companies, primarily through direct lending and asset-based finance. Its investment products include first- and second-lien senior-secured loans and bonds, subordinated loans, and asset-based financing loans; it also holds preferred equity and other equity investments. [4](https://www.fskkrcapitalcorp.com/about/overview/)[5](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/02/fsk-10-k-2025.pdf)

At June 30, 2026, the company’s portfolio page reported, by fair value, 58.7% first-lien senior-secured loans, 3.9% second-lien senior-secured loans, 0.9% subordinated debt, 12.6% asset-based finance, 6.7% preferred equity and 2.4% equity/other. Separately, its Q2 2026 fund summary reported that 85% of debt investments were floating-rate. These figures describe portfolio composition and interest-rate characteristics, not product revenue or returns. [6](https://www.fskkrcapitalcorp.com/about/portfolio/)[7](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/08/fsk-fund-summary-q2-2026.pdf)
[4](https://www.fskkrcapitalcorp.com/about/overview/)[5](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/02/fsk-10-k-2025.pdf)[6](https://www.fskkrcapitalcorp.com/about/portfolio/)[7](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/08/fsk-fund-summary-q2-2026.pdf)[4](https://www.fskkrcapitalcorp.com/about/overview/)[5](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/02/fsk-10-k-2025.pdf)[6](https://www.fskkrcapitalcorp.com/about/portfolio/)[7](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/08/fsk-fund-summary-q2-2026.pdf)

## Geographic presence

FS KKR Capital Corp.’s portfolio is primarily composed of loans to private middle-market U.S. companies; the available reporting does not break this exposure down by state or U.S. region. [1](https://app.finbar.com/go?id=P147519324) The company’s principal executive office is in Philadelphia, Pennsylvania, and it is incorporated in Maryland. [8](https://app.finbar.com/go?id=T16879090)

At June 30, 2026, the company also held investments denominated in Australian dollars, British pounds, euros, and Swedish kronor, with a combined fair value of approximately $633.7 million. These are currency denominations and do not establish the locations of the underlying companies. [9](https://app.finbar.com/go?id=T16879285) The report does not provide revenue or investment income by geography. [10](https://app.finbar.com/go?id=T16879098)
[1](https://app.finbar.com/go?id=P147519324)[8](https://app.finbar.com/go?id=T16879090)[9](https://app.finbar.com/go?id=T16879285)[10](https://app.finbar.com/go?id=T16879098)

## Business segments

In its Q2 2026 reporting, FS KKR Capital Corp. identifies one operating and reporting segment, with an investment objective of generating current income and, to a lesser extent, long-term capital appreciation. The company assesses performance and makes operating decisions on a consolidated basis. [11](https://app.finbar.com/go?id=P147519264)

Because the company reports a single segment, it provides no breakdown of contribution by multiple segments or separate segment-level percentages for income, assets, or portfolio value. [11](https://app.finbar.com/go?id=P147519264)
[11](https://app.finbar.com/go?id=P147519264)

## Company history

FS KKR Capital Corp. was incorporated in Maryland as FS Investment Corporation on December 21, 2007, and began investment operations on January 2, 2009. [12](https://app.finbar.com/go?id=P177216522)[13](https://app.finbar.com/go?id=P181772582) Its shares began trading on the New York Stock Exchange under the ticker FSIC on April 16, 2014. [14](https://app.finbar.com/go?id=P180855551)

In 2018, the company transitioned to FS/KKR Advisor, LLC, which became its investment adviser after GSO/Blackstone Debt Funds Management resigned as sub-adviser. [15](https://app.finbar.com/go?id=P181773908) That year, FS Investment Corporation completed its merger with Corporate Capital Trust, with FS Investment Corporation surviving; it then adopted the name FS KKR Capital Corp. and ticker FSK. [16](https://app.finbar.com/go?id=P180854997)[14](https://app.finbar.com/go?id=P180855551)[17](https://www.sec.gov/Archives/edgar/data/1422183/000119312518353292/d670132d8k.htm)

FSK completed its merger with FS KKR Capital Corp. II on June 16, 2021, with FSK as the surviving company. Former FSKR shareholders received 0.9498 FSK shares for each FSKR share. [18](https://app.finbar.com/go?id=P177219807)[19](https://app.finbar.com/go?id=P91697757)
[12](https://app.finbar.com/go?id=P177216522)[13](https://app.finbar.com/go?id=P181772582)[14](https://app.finbar.com/go?id=P180855551)[15](https://app.finbar.com/go?id=P181773908)[16](https://app.finbar.com/go?id=P180854997)[18](https://app.finbar.com/go?id=P177219807)[19](https://app.finbar.com/go?id=P91697757)[17](https://www.sec.gov/Archives/edgar/data/1422183/000119312518353292/d670132d8k.htm)

## Sources

1. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147519324)
2. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16879269)
3. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16879270)
4. [www.fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/about/overview/)
5. [www.fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/02/fsk-10-k-2025.pdf)
6. [www.fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/about/portfolio/)
7. [www.fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/08/fsk-fund-summary-q2-2026.pdf)
8. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16879090)
9. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16879285)
10. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16879098)
11. [FS KKR Capital Corp — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P147519264)
12. [FS KKR Capital Corp — Full financial report (2020 Y)](https://app.finbar.com/go?id=P177216522)
13. [FS KKR Capital Corp — Full financial report (2018 Y)](https://app.finbar.com/go?id=P181772582)
14. [FS KKR Capital Corp — Full financial report (2019 Y)](https://app.finbar.com/go?id=P180855551)
15. [FS KKR Capital Corp — Full financial report (2018 Y)](https://app.finbar.com/go?id=P181773908)
16. [FS KKR Capital Corp — Full financial report (2019 Y)](https://app.finbar.com/go?id=P180854997)
17. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1422183/000119312518353292/d670132d8k.htm)
18. [FS KKR Capital Corp — Full financial report (2020 Y)](https://app.finbar.com/go?id=P177219807)
19. [FS KKR Capital Corp — Full financial report (2021 Y)](https://app.finbar.com/go?id=P91697757)

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