FS Investments, an alternative asset manager with $35 billion in assets under management have closed its FS Tactical Opportunities Fund.

The fund employs an opportunistic credit strategy looking to generate off-market yield and returns compared to traditional credit asset classes. It is managed by the same liquid credit and special situations team.

“We are grateful for the support of our investors and look forward to continuing to deliver strong performance for them,” says Andrew Beckman, head of liquid credit & special situations. “In an uncertain and volatile market, we believe FS Tactical Opportunities Fund is well positioned to outperform given the highly structured and idiosyncratic nature of its private investments and its ability to opportunistically purchase secondary investments during dislocations, which translates into less dependence on the economic cycle.”

Debevoise & Plimpton LLP acted as counsel to FS Investments.