An investment in any fund sponsored by FS Investments involves a high degree of risk and may be considered speculative. Investors are advised to consider the investment objectives, risks, and charges and expenses of the applicable fund carefully before investing. For funds offering shares to new investors, the applicable fund’s prospectus contains this and other information. Investors may obtain a copy of the applicable fund’s prospectus free of charge at www.fsinvestments.com or by phone at 877-628-8575 for FS interval funds and closed-end funds or 877-924-4766 for FS mutual funds. Investors should read and carefully consider all information found in the applicable fund’s prospectus and other reports filed with the U.S. Securities and Exchange Commission (SEC) before investing.

This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. An offering is made only by a prospectus, which must be made available to you in connection with any offering. No offering is made to New York investors except by a prospectus filed with the Department of Law of the State of New York.

Individual investors and endowments may have different investment horizons, liquidity needs and risk tolerances. In addition, fees that may be incurred by an investor in any of the funds sponsored by FS Investments may be different than fees incurred by an endowment investing in similar assets as those in which the funds invest.

FS Investment Solutions, LLC | 201 Rouse Boulevard | Philadelphia, PA 19112

877-628-8575 | Member FINRA/SIPC

FS interval funds and FS MVP Private Markets Fund are distributed by ALPS Distributors, Inc. (1290 Broadway, Suite 1000, Denver, CO 80203, member FINRA). ALPS Distributors, Inc. is not affiliated with either FS Investments or any of its affiliates. FS Investment Solutions, LLC is an affiliated broker-dealer that serves as the exclusive wholesale marketing agent for FS interval funds and FS MVP Private Markets Fund.

FS Chiron Capital Allocation Fund, FS Chiron SMid Opportunities Fund, FS Chiron Real Development Fund and FS Multi-Strategy Alternatives Fund are distributed by SEI Investments Distribution Co. (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456. SIDCO is not affiliated with Chiron Investment Management LLC, FS Investment Solutions, LLC., Wilshire Advisors LLC, MidOcean Partners, Crabel Capital Mgmt., Mariner Investment Group, LLC, Electron Capital Partners, LLC, or Waterfall Asset Management, LLC. Check the background of SEI Investment Distribution Co. on FINRA’s BrokerCheck.

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