CIO Gayeski as chief market strategist

FS KKR Capital

19/10/2021 11:00

By Svea Herbst-Bayliss
    Oct 19 (Reuters) - FS Investments, an alternative asset
manager that invests roughly $25 billion, said it has hired Troy
Gayeski, the former co-chief investment officer at Anthony
Scaramucci's SkyBridge Capital, as its chief market strategist.
    Gayeski joins FS Investments as low interest rates force
investors to search for new ways to make money in their fixed
income portfolios, prompting moves into private credit and real
estate investments, for example.
    At FS Investments, Gayeski will work with chief investment
officer Mike Kelly, Robert Hoffman, who heads research, and
chief U.S. economist Lara Rhame. His position is a new one.
    "I look forward to benefiting from (Gayeski's) insight,
expertise and strong industry relationships as we continue to
grow our business and work to deliver innovative new solutions
to our clients and investors," Michael Forman, FS Investments'
chairman and chief executive officer, said in a statement.  
    The firm, founded as Franklin Square Capital Partners in
2007, concentrates on giving retail investors access to
alternatives including business development companies (BDCs)
that loan money to smaller companies at a time other lenders
pulled back from making these types of loans.
    BDCs, like Real Estate Investment Trusts, create an income
stream that has become very popular with investors in the
current low-rate environment. FS Investments teamed up with
venture firm KKR to form FS KKR Capital Corp  FSK.N .
    Gayeski left Scaramucci's $6.5 billion SkyBridge, where he
had worked for over a decade, over the summer. Still he played a
key role at Scaramucci's marquee Wall Street conference when it
returned in person to New York's Jacob K. Javits Convention
Center last month and Gayeski hosted one of the conference's
first panels. 

 (Reporting by Svea Herbst-Bayliss in Boston
Editing by Matthew Lewis)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))