FS Specialty Lending Fund · NYSE:FSSL
FS Specialty Lending Fund — FS Energy & Power Fund — Proxy Contest (January 2018)
13 slides from FS Specialty Lending Fund's proxy contest presentation, Jan 23, 2018
Slide 1: EIG Global Energy Partners
EIG Global Energy Partners cones EIG
Slide 2: EIG's strategic rationale for partnership
EIG’S strategic rationale for partnership 1 As of September 30, 2017 2 There is no guarantee this exemptive relief sought from the US Securities and Exchange Commission will be granted in part or at all. EIG’s singular focus on energy investing 35-year track record 36 countries1 investments cross $2
Slide 3: EIG Global Energy Partners
EIG Global Energy Partners EIG is a leading institutional investor in energy globally with $17.0 billion under management as of September 30, 2017 Active across the entire energy and resources value chain: upstream E&P, infrastructure, midstream, power, transportation and renewables Investment capab
Slide 4: EIG Global Energy Partners Investment platform
EIG Global Energy Partners Investment platform There is no guarantee this exemptive relief will be granted in part or at all. Senior Debt Hybrid Debt & Structured Equity Private Equity (Control / Near-Control) Global Project Fund Series Energy Fund series Harbour Energy Upstream Midstream Infrastruc
Slide 5: EIG target energy & infrastructure sub-sectors
Reserve-Based Development Production Payments Forward Oil Sales Resource Plays Pipelines Gathering Systems Processing Facilities Gas Storage LNG Processed Gas LNG & Specialty Tankers LNG Regasification Terminals Gas Sales Gas-Fired Power Electricity T&D Wind Solar Biofuels Geothermal UPSTREAM INFRAS
Slide 6: Veteran sector specialists
Veteran sector specialists 9 sector-specialist Managing Directors led by an experienced Investment Committee R. Blair Thomas Investment Committee William Sonneborn2 Investment Committee Randall Wade Investment Committee Jean-Daniel Borgeaud Investment Committee Ronnie Hawkins Investment Committee Ri
Slide 7: EIG Engineering: A key competitive advantage
Technology Technical professionals EIG Investment Team EIG Engineering: A key competitive advantage Note: As of September 30, 2017. Proprietary insight Independent view 16,000+ wells Exposure to every major US basin Monthly cost & production data 14 firm-wide 7 dedicated to technical analysis Commer
Slide 8: Significant Diversification by Sector, Country and Ranking
Significant Diversification by Sector, Country and Ranking Investment Characteristics Energy Funds1 Global Project Funds2 Geography Investment Type Geography Investment Type Energy Funds XIV, XV and XVI as of September 30, 2017. Based on committed capital. Represents GPF II, GPF III and GPF IV as of
Slide 9: Diversified Portfolio Construction
Diversified Portfolio Construction EIG’s direct lending business by subsector1 Global Project Fund Series Cumulative Totals ($mm, unaudited) 9/30/172 Total Commitments $4,480 Total Investment Capital $4,038 Total Number of Investments since Inception 94 Represents portfolio allocations as of Septemb
Slide 10: Deal sourcing method and robust pipeline
DEAL SOURCING METHOD % OF TRANSACTIONS1 Proprietary/bilaterally sourced 71% Limited auction 19% Open auction 5% Public debt 5% ROBUST PIPELINE WITH SELECTIVE INVESTMENT PROCESS 2012 2013 2014 2015 2016 Deals identified 197 257 266 357 292 % closed 4% 2% 3% 2% 3% Proprietary transaction sourcing adva
Slide 11: Significant focus on downside protection
Significant focus on downside protection Contributing factors resulting in high level of recoveries on defaulted investments Expertise in highly negotiated documentation (covenants, control rights, hedging, prepayment protection, etc.) Structural covenants to protect position in the senior level of
Slide 12: Disclosures
Disclosures The information contained herein (the “Presentation”) is highly confidential and is being provided to you at your request for informational purposes only and is not, and may not be relied on in any manner as, legal, tax or investment advice or as an offer to sell or a solicitation of an
Slide 13: End notes
End notes Pipeline Investments. Any investment pipeline information presented herein is for informational purposes only and is intended to illustrate EIG’s sourcing experience and the profile and types of investments previously pursued by EIG. It should not be assumed that investments made in the fu
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