f|b Income Advisor Professionals
Michael C. Forman
Chief Executive Officer
Mr. Forman serves as Chief Executive Officer of f|b Income Advisor and Chairman of its Investment Committee. Mr. Forman is responsible for developing the overall investment strategy of FS Investment Corporation and forming sub-advisory relationships with best-in-class asset managers that add value for our investment clients. In addition to his role at FB Income Advisor, Mr. Forman co-founded Franklin Square Capital Partners and serves as the company’s Chief Executive Officer. In 2005, Mr. Forman also co-founded f|b Capital Partners, LP, a Philadelphia-based investment and alternative asset management firm focused on the middle market. Mr. Forman is a director of a number of f|b portfolio companies.
Prior to co-founding f|b Capital Partners, Mr. Forman was a senior partner in the Corporate and Securities Department at the Philadelphia based law firm of Klehr, Harrison, Harvey, Branzburg & Ellers LLP where he practiced for nearly 20 years. Throughout his career, Mr. Forman has been an active private investor and entrepreneur. Mr. Forman received his B.A. summa cum laude from the University of Rhode Island, where he was elected Phi Beta Kappa, and received his J.D. from Rutgers University. He is a member of a number of civic and charitable boards, including the Eastern Technology Council of Pennsylvania, Murex Investments, Inc., an economic development/venture capital firm, the Philadelphia International Airport Advisory Board, and the Philadelphia Chapter of Habitat for Humanity.
David Adelman
Vice Chairman
Mr. Adelman serves as Vice Chairman of f|b Income Advisor and holds a seat on its investment committee. Together with Michael Forman, Mr. Adelman is responsible for developing the overall investment strategy of FS Investment Corporation and forming sub-advisory relationships with best-in-class asset managers that add value for our investment clients. In addition to his role at f|b Income Advisor, Mr. Adelman co-founded Franklin Square Capital Partners with Michael Forman and serves as Chairman of Franklin Square’s Board of Managers.
Mr. Adelman has significant managerial and investment experience and serves as President and CEO of Philadelphia-based Campus Apartments, Inc., which develops, manages, designs and privately finances more than 220 upscale housing facilities for colleges and universities across the United States. Further, in 2006, Campus Apartments entered into a $1.1 billion venture with GIC Real Estate Pte Ltd, the real estate investment arm of the Government of Singapore Investment Corporation, in which Campus Apartments uses the venture’s capital to acquire, develop, operate and manage student housing projects across the United States. Mr. Adelman is also an active private investor and entrepreneur.
In addition to his duties as President and CEO of Campus Apartments, David Adelman is the vice chair of University City District Board of Directors, the President of the Apartment Association of Greater Philadelphia, board member of Hyperion Bank and the National Multi Family Council (NMHC), member of the Executive Committee of the Urban Land Institute’s Philadelphia Chapter and a member of the Young Presidents Organization. Mr. Adelman received his B.A. in Political Science from Ohio State University.
Joseph A. Breen
Director - Finance
Mr. Breen directs the finance and accounting functions at FB Income Advisor and currently serves as Chief Financial Officer of FB Capital Partners, LP. From 2001 to 2006, Mr. Breen served as the chief financial officer of Mercantile Capital L.P., an asset-based lender and factorer. Previously he was Chief Financial Officer of a privately owned publishing and trade show company. Prior to that, Mr. Breen served as Vice President-Finance for Robinson Alarm Co., where he managed financial and operational aspects of a diverse group of companies with a concentration in real estate and the commercial alarm industry. Mr. Breen holds a B.S. in accounting from LaSalle University.
Salvatore Faia
Chief Compliance Officer
Since 2004, Mr. Faia has served as the president of Vigilant Compliance Services, a full service compliance firm serving mutual funds and the investment industry. In connection with his role as president of Vigilant Compliance Services, he currently serves as chief compliance officer for a number of mutual funds and investment advisers. From 2002 to 2004, Mr. Faia served as Senior legal counsel for PFPC Worldwide, and from 1997-2001 was a partner in Pepper Hamilton LLP’s Philadelphia Office. Mr. Faia has extensive experience with mutual funds, hedge funds, investment advisers, broker dealers and the investment management industry. In addition to being an experienced 1940 Act and Advisers’ Act attorney, he is a Certified Public Accountant, and holds various NASD Securities Licenses. Mr. Faia is a Member of the Investment Company Institute’s Chief Compliance Officer Committee. Mr. Faia graduated from La Salle University and received his J.D. from the University of Pennsylvania Law School.
Ryan D. Conley
Vice President
Mr. Conley serves as Vice President of f|b Income Advisor, reporting directly to Messrs. Forman and Adelman. Mr. Conley has focused on evaluating, executing and monitoring income-oriented private equity and debt investments since he joined f|b Capital Partners in 2006. Before joining FB Capital Partners, Mr. Conley was first an Associate and later a Senior Associate in the Investment Banking Group at Janney Montgomery Scott LLC, where he was responsible for providing valuation analysis, transaction execution and advisory services to companies in the water and energy industries. His investment and advisory experience includes private equity and debt investments, public equity and debt offerings, mergers, acquisitions and other corporate finance assignments totaling more than $1.8 billion in transaction value. Mr. Conley holds a B.A. in Economics from Swarthmore College.