{"url":"https://nivawealth.com/firms/fs-kkr-advisor-292803","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/292803","regulatoryAum":16095716000,"crd":"292803","secFileNumber":"801-112799","legalName":"FS/KKR Advisor, LLC","displayName":"FS/KKR Advisor","website":null,"founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"3025 JFK Boulevard, Ofc 500","city":"Philadelphia","state":"PA","stateName":"Pennsylvania","country":"United States","postalCode":"19104"},"tradeNames":[],"registration":{"secApproved":"2 April 2018","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":736,"advisory":192,"brokerDealerReps":69,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":16095716000,"discretionaryAccounts":3,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Business development companies","clients":3,"regulatoryAum":16095716000}],"fees":[],"feeNotes":[],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[],"custodyNote":"FS/KKR Advisor does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Michael Forman","title":"Chief Executive Officer","crd":"5517777"},{"name":"Daniel Pietrzak","title":"President","crd":"4185697"},{"name":"Joseph McGeehin","title":"Chief Financial Officer","crd":"5193186"},{"name":"David Adelman","title":"Member","crd":"5517785"},{"name":"Marc Bryant","title":"Chief Legal Officer","crd":"4516386"},{"name":"Elizabeth Detwiler","title":"Managing Director, CCO","crd":"4361137"},{"name":"Stephen Sypherd","title":"General Counsel, Secretary","crd":"6926662"}],"ownership":[{"label":"FSJV Holdco, LLC","detail":"Member in the 50% to 75% ownership band and a control person, since March 2018."},{"label":"KKR Credit Advisors (us) LLC","detail":"Member in the 50% to 75% ownership band and a control person, since March 2018."},{"label":"Franklin Square Holdings, L.P.","detail":"Indirect owner: a member of FSH Holdco, LLC in the 75% or more band and a control person, since June 2023. Also a member of FSH Advisor Fee Holdings, LLC in the 75% or more band and a control person, since June 2023. Also a member of FSJV Holdco, LLC in the 50% to 75% band and a control person, since June 2023. Also a member of FSH Holdco Sub, LLC in the 75% or more band and a control person, since June 2023.","parent":"FSH Holdco, LLC"},{"label":"Franklin Square Holdings, G.P., LLC","detail":"Indirect owner: general partner of Franklin Square Holdings, L.P. and a control person, since May 2007.","parent":"Franklin Square Holdings, L.P."},{"label":"Michael Forman","detail":"Indirect owner: a managing member of Franklin Square Holdings, G.P., LLC in the 50% to 75% band and a control person, since May 2007. Also a limited partner of FB Capital Partners, L.P. in the 75% or more band and a control person, since August 2005. Also a sole member of FB Capital Management, LLC in the 75% or more band and a control person, since February 2007.","parent":"Franklin Square Holdings, G.P., LLC"},{"label":"David Adelman","detail":"Indirect owner: a member of Franklin Square Holdings, G.P., LLC in the 50% to 75% band and a control person, since May 2007.","parent":"Franklin Square Holdings, G.P., LLC"},{"label":"KKR Group Partnership L.P.","detail":"Indirect owner: a limited partner of Kohlberg Kravis Roberts & Co. L.P. in the 75% or more band and a control person, since January 2020. Also a sole member of KKR Holdco LLC in the 75% or more band and a control person, since January 2020.","parent":"Kohlberg Kravis Roberts & Co. L.P."},{"label":"KKR & Co. GP LLC","detail":"Indirect owner: general partner of Kohlberg Kravis Roberts & Co. L.P. and a control person, since January 2020.","parent":"Kohlberg Kravis Roberts & Co. L.P."},{"label":"KKR Group Holdings L.P.","detail":"Indirect owner: a limited partner of KKR Group Partnership L.P. in the 25% to 50% band and a control person, since January 2020.","parent":"KKR Group Partnership L.P."},{"label":"Kohlberg Kravis Roberts & Co. L.P.","detail":"Indirect owner: a member of KKR Credit Advisors (us) LLC in the 75% or more band and a control person, since June 2004.","parent":"KKR Credit Advisors (us) LLC"},{"label":"KKR & Co. Inc","detail":"Indirect owner: a shareholder of KKR Group Co. Inc. in the 75% or more band and a control person, since May 2022.","parent":"KKR Group Co. Inc."},{"label":"KKR Group Holdings Corp.","detail":"Indirect owner: general partner of KKR Group Partnership L.P. and a control person, since January 2020. Also a general partner of KKR Group Holdings L.P. in the 75% or more band and a control person, since May 2022.","parent":"KKR Group Partnership L.P."},{"label":"KKR Holdco LLC","detail":"Indirect owner: a member of KKR & Co. GP LLC in the 75% or more band and a control person, since January 2020.","parent":"KKR & Co. GP LLC"},{"label":"KKR Group Co. Inc.","detail":"Indirect owner: a shareholder of KKR Group Holdings Corp. in the 75% or more band and a control person, since December 2017.","parent":"KKR Group Holdings Corp."},{"label":"FSH Advisor Fee Holdings, LLC","detail":"Indirect owner: a member of FSJV Holdco, LLC in the 25% to 50% band and a control person, since June 2023.","parent":"FSJV Holdco, LLC"},{"label":"FSH Nci Aggregator, LLC","detail":"Indirect owner: a limited partner of Franklin Square Holdings, L.P. in the 25% to 50% band and a control person, since June 2023.","parent":"Franklin Square Holdings, L.P."},{"label":"The 2011 Forman Investment Trust","detail":"Indirect owner: a member of FSH Nci Aggregator, LLC in the 25% to 50% band and a control person, since June 2023.","parent":"FSH Nci Aggregator, LLC"},{"label":"FB Capital Management, LLC","detail":"Indirect owner: general partner of FB Capital Partners, L.P. and a control person, since January 2013.","parent":"FB Capital Partners, L.P."},{"label":"Michael Heller","detail":"Indirect owner: trustee of The 2011 Forman Investment Trust, since January 2012.","parent":"The 2011 Forman Investment Trust"},{"label":"FB Capital Partners, L.P.","detail":"Indirect owner: a member of FSH Nci Aggregator, LLC in the 25% to 50% band and a control person, since June 2023.","parent":"FSH Nci Aggregator, LLC"},{"label":"Thomas Trala","detail":"Indirect owner: trustee of The 2011 Forman Investment Trust, since January 2020.","parent":"The 2011 Forman Investment Trust"},{"label":"FSH Holdco Sub, LLC","detail":"Indirect owner: member of FSJV Holdco, LLC, since June 2023.","parent":"FSJV Holdco, LLC"},{"label":"FSH Holdco, LLC","detail":"Indirect owner: member of FSH Holdco Sub, LLC, since June 2023.","parent":"FSH Holdco Sub, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":10,"privateResidences":0},"listedOfficeAddresses":7,"officesByState":[{"state":"California","offices":2,"addresses":[{"street":"2800 Sand Hill Road","city":"Menlo Park"},{"street":"841 Apollo Street","city":"Los Angeles"}]},{"state":"Massachusetts","offices":2,"addresses":[{"street":"20 Guest Street","city":"Brighton"},{"street":"KKR 2 International Place","city":"Boston"}]},{"state":"New York","offices":2,"addresses":[{"street":"10 East 53rd Street","city":"New York"},{"street":"30 Hudson Yards","city":"New York"}]},{"state":"Pennsylvania","offices":1,"addresses":[{"street":"3025 JFK Boulevard, Ofc 500","city":"Philadelphia","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"215-220-6651","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees","Other"],"activities":["Portfolio management for investment companies"],"financialPlanningClients":null,"assetMix":[],"privateFunds":0},"sources":{"adv1FilingDate":"1 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/292803/PDF/292803.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does FS/KKR Advisor have?","answer":"FS/KKR Advisor has 3 clients and manages $16.1 billion for them, as of June 2026.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 1 June 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does FS/KKR Advisor offer?","answer":"FS/KKR Advisor provides portfolio management for investment companies.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How many financial advisors does FS/KKR Advisor have?","answer":"FS/KKR Advisor has 0 investment adviser representatives registered with state securities authorities, out of 736 employees, and 192 perform investment advisory functions. 69 are registered representatives of a broker-dealer and 0 are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns FS/KKR Advisor?","answer":"FS/KKR Advisor is owned through a chain of holding companies by Michael Forman, David Adelman, KKR Group Holdings L.P., KKR & Co. Inc, KKR Holdco LLC and FSH Advisor Fee Holdings, LLC. Its direct owners are FSJV Holdco, LLC (50% to 75%) and KKR Credit Advisors (us) LLC (50% to 75%).","source":"Form ADV Part 1A, Schedules A and B, filed 1 June 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does FS/KKR Advisor get paid?","answer":"FS/KKR Advisor is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}