Franklin Square Investment Corporation (FSIC) saw falling investment income during the third quarter following delays in deploying deals, management said.
Adjusted net investment income (NII) for the third quarter was 21 cents per share, down from 35 cents in the previous period and 25 cents this time last year.
“Adjusted NII was lower than expected primarily due to lower fee income as the number of closings of direct originations expected during the third quarter were pushed into the fourth quarter,” said chairman and chief executive Michael Forman (pictured) during FSIC’s earnings call.
