Future Standard
responsible investment steering committee charter

The Responsible Investment Committee’s (“Committee”) purpose is to support Future Standard’s on-going commitment to responsible investing topics, such as, environmental, corporate social responsibility and corporate governance. The Committee is across-functional management committee of the Firm and is overseen by Future Standard’s Executive Committee.

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Future Standard’s primary mission is to help investors design better, more diversified investment portfolios. Since its founding, the Firm’s vision has been to provide investors with access to best-in-class alternative sources of income and growth, historically available only to large institutions and the wealthiest individuals. Today, our mission remains the same, and we are managing a growing suite of thoughtfully designed funds that combine differentiated strategies and investment structures tailored to our investors’ needs, across a wide range of alternative strategies.

DUTIES AND RESPONSIBILITIES

The duties and responsibilities of the Committee shall be as follows:

  • Establish oversight over responsible investment policies and procedures, ensuring that they are being adhered to throughout the Firm in a timely and accurate manner;
  • Assist in setting the Firm’s general strategy with respect to Responsible Investment and sustainability and consider and recommend policies, practices and disclosures that conform with the strategy;
  • Aligning responsible investment practices with industry initiatives and regulatory frameworks, as appropriate;
  • Oversee the Firm’s reporting and disclosure with respect to Responsible Investment;
  • Assist in overseeing internal and external communications regarding the Firm’s approach to sustainability;
  • Ensure that systems exist within the Firm, as deemed necessary and appropriate, to monitor sustainability practices and Responsible Investment reporting;
  • Administer the Firm’s Institutional Responsible Investment Policy and its Retail Responsible Investment Policy, as described in Appendix A;
  • Providing training to Firm personnel regarding Responsible Investment and sustainability developments;
  • Review and approve minutes of all meetings of the Committee and provide regular updates to the Firm’s senior management;
  • Retain such consultants and experts as deemed necessary by the Committee;
  • Ensure that the United Nations Principles for Responsible Investment (“UN PRI”) signatory status is maintained, where applicable;
  • Perform such other duties, tasks and responsibilities as necessary or as may be requested from time to time to maintain robust Responsible Investment policies.

meetings

The Committee shall meet on a quarterly basis and at such other times as may be required. Notice of such meetings shall be provided to each member of the Committee. Members of the Committee are responsible for bringing relevant issues regarding Responsible Investment and sustainability to the attention of the Committee. The Committee is responsible for establishing procedures for the organization and operation of its meetings.

committee members

The Committee members shall consist of representatives of the following departments within Future Standard: a. Chief Investment Officer; b. Portfolio Manager(s); c. Investment Operations; d. Legal and Compliance; e. Investor Relations and Marketing; f. HumanResources; g. Due Diligence; and h. such other departments within the Firm as may be determined by the Committee as being relevant.

 

The Committee may establish such membership requirements and rules of governance as the members unanimously agree upon. The Committee shall have the discretion and authority to request attendance of any personnel of Future Standard at the Committee or subcommittee meetings.

 

The current members of the Committee are listed in Appendix B hereto, along with their respective areas of responsibility.

subcommittees

The Committee may, in its sole discretion, establish such subcommittees as needed to assist it in fulfilling its mandate. In addition, the Committee may delegate duties to such subcommittee(s) as it deems necessary and appropriate.

voting

A quorum shall consist of all members of the Committee. Unanimous consent of the Committee members is required for approvals. Meetings may be held in person or telephonically or via Zoom or equivalent technology, as required.

records of committee meetings

A member of the Committee shall be designated as the Secretary of the Committee and shall maintain minutes of all meetings. All minutes shall be submitted to the Committee at its next regular meeting. Records of all minutes and meeting notes shall be maintained according to the Firm’s record retention policies and procedures. The Committee may also identify other records that the Committee deems appropriate to maintain.

periodic reviews and amendments

On at least an annual basis, this Committee shall review this Charter and determine whether any amendments are required and review the membership of the Committee and recommend any changes to the Committee as deemed appropriate. The Committee must approve all amendments to this Charter.

APPENDIX A – FUNDS SUBJECT TO THE RETAIL RESPONSIBLE INVESTMENT POLICY AND THE INSTITUTIONAL RESPONSIBLE INVESTMENT POLICY

Funds subject to the Retail Responsible Investment Policy:

  • FS Credit Opportunities Fund
  • FS Credit Income Fund
  • FS Specialty Lending Fund
  • FS Credit Real Estate Income Trust, Inc.
  • FS KKR Capital Corp.
  • Private Credit BDCs
  • FS Multi-Strategy Alternatives Fund

Institutional Funds managed by Future Standard and/or its affiliates are subject to the Firm’s Institutional Responsible Investment Policy.

APPENDIX B – CURRENT MEMBERS OF THE COMMITTEE

  • James Beach, Managing Director, Head of Business Unit Management 
  • Molly Borgese, Vice President, Compliance Officer 
  • Anderson Cha, Senior Vice President, Institutional Business Development 
  • Adam Clemens, Managing Director, Head of Private Equity 
  • Lisa Detwiler, Managing Director, Chief Compliance Officer 
  • Scott Giardina, Managing Director, Global Credit 
  • Michael Kelly, Co-President and Chief Investment Officer 
  • Ania Kinney, Senior Vice President, Client Solutions  
  • Matthew Murtagh, Managing Director, Institutional Business Development 
  • Adam Nadborny, Managing Director, General Counsel – Digital Infrastructure 
  • Jenny Smith, Managing Director, General Counsel – Private Funds 
  • Laura Sparks, Chief Corporate Affairs Officer and President, FS Foundation  
  • Stephen Tisdalle – Chief Marketing Officer 
  • Alexander von Wolffradt, Senior Vice President, Institutional Business Development 
  • Charlie Waterman, Senior Vice President, Head of Due Diligence 

Adopted by the Committee on January 9, 2026