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Tuesday, February 26, 2008

Franklin Square aims for $1.5B

Franklin Square Investment Corp., Philadelphia , has filed a proposal with the SEC to raise $1.5 billion from investors to fund purchases of small and midsized private companies.
Franklin Square is controlled by FB Capital Partners, which is owned by Philadelphia attorney-turned-real estate investor Michael C. Forman and Campus Apartments Inc. chief executive officer David J. Adelman.
The fund will be managed by GSO Business Management of New York, which in January agreed to be acquired by hedge fund and private investment manager Blackstone Group. (See DealBook here.)
Forman and Adelman declined to comment.

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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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