# FS Global Advisor, LLC

> FS Global Advisor, LLC is an SEC-registered investment advisory firm in Philadelphia, PA, registered since 2013, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 10, 2026.

- CRD: 167620
- Filed as: FS GLOBAL ADVISOR, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Philadelphia, PA
- Filing period: October 2026
- Form ADV filing dated: June 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/167620
- AdvisorCensus page: https://advisorcensus.com/firm/fs-global-advisor-llc-philadelphia-pa-167620

## Quick answers

**How is FS Global Advisor, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), FS Global Advisor, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is FS Global Advisor, LLC located?**
FS Global Advisor, LLC's principal office is in Philadelphia, PA, according to its Form ADV; the July 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is FS Global Advisor, LLC registered with the SEC or a state?**
FS Global Advisor, LLC is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 167620.

**How much does FS Global Advisor, LLC manage?**
FS Global Advisor, LLC reports $3,012,314,711 in regulatory assets under management in its Form ADV filing dated June 10, 2026 (93% discretionary).

**How have FS Global Advisor, LLC's assets and staff changed since 2021?**
In the Form ADV data for FS Global Advisor, LLC: Regulatory assets under management: $2,200,040,419 in the October 2021 data and $3,012,314,711 in the October 2026 data, up 37%. Total employees: 130 in October 2021 and 184 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does FS Global Advisor, LLC serve?**
By number of clients on Form ADV Item 5.D: other (4); pooled investment vehicles (other than investment companies and business development companies) (3); investment companies (1).

**Does FS Global Advisor, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/167620

**What changed in FS Global Advisor, LLC's recent Form ADV filings?**
In the July 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $3,012,314,711
- Discretionary: $2,810,589,433
- Non-discretionary: $201,725,278

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 1 | $2,158,959,000 |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $651,630,433 |
| Other | 4 | $201,725,278 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2013 (13 years)
- Employees: 184 total, 25 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, NY, PA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- Darien, CT
- New York, NY
- Stamford, CT

### Websites listed on Form ADV (Item 1.I)
- fscreit.com
- fskkrcapitalcorp.com
- fsproxy.com
- fssl.futurestandard.com
- futurestandard.com
- music.amazon.com/podcasts/8e15a78f-46f8-4204-bfb5-40a49123a106/fireside-a-podcast-series-from-future-standard
- open.spotify.com/show/1bNRLpYa1luvcEyTA8AtMc
- player.fm/series/fireside-a-podcast-series-from-future-standard
- podcastaddict.com/podcast/fireside-a-podcast-series-from-future-standard/3323566
- podcastindex.org/podcast/2757367
- podcasts.apple.com/us/podcast/fireside-a-podcast-series-from-future-standard/id1561214982
- Facebook @futurestandard
- Instagram @futurestandardfs
- LinkedIn @futurestandardfs
- LinkedIn @portfolio-advisors
- LinkedIn @michael-forman
- LinkedIn @troy-a-gayeski-cfa-720366197
- X @MichaelFormanFS
- X @TroyGayeski
- X @futurestandard
- YouTube @futurestandardfs

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,200,040,419 | 130 | July 2, 2021 |
| October 2022 | $2,375,963,000 | 146 | March 23, 2022 |
| October 2023 | $2,014,342,000 | 110 | July 17, 2023 |
| October 2024 | $2,648,219,394 | 122 | May 1, 2024 |
| October 2025 | $3,031,365,662 | 152 | March 31, 2025 |
| October 2026 | $3,012,314,711 | 184 | June 10, 2026 |

Regulatory assets under management: $2,200,040,419 in the October 2021 data and $3,012,314,711 in the October 2026 data, up 37%.
Total employees: 130 in October 2021 and 184 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Added an office in Stamford, CT.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. FS Global Advisor, LLC (CRD 167620): Form ADV filing data as of October 2026.