FS Investments promotes Mike Kelly to president

FS Investments has promoted Mike Kelly, currently its chief investment officer, to president. He will continue to lead the firm's investment efforts. The firm, based in Philadelphia, manages alternative assets and has more than $20 billion in assets under management. In his expanded role, Mr. Kelly will direct FS's capital markets, due diligence, investment research and investor relations functions, as well as continue to serve on the firm's executive committee and oversee investment management and product development. (More: Changing direction, FS Investments launching a nontraded REIT) Prior to joining FS Investments, Mr. Kelly was chief executive officer at ORIX USA Asset Management, and co-CEO and chief investment officer at FrontPoint Partners. Earlier in his career, he held various positions at Tiger Management, Omega Advisors and Salomon Brothers.