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Michael Forman is Chairman & CEO of FS Investments and has been leading the company since founding it in 2007, when it was known as Franklin Square Capital Partners. Prior to co-founding FS Investments, Mr. Forman founded a private equity and real estate investment firm. He started his career as a corporate and securities lawyer.

Mr. Forman received his BA from the University of Rhode Island, where he graduated summa cum laude and was elected Phi Beta Kappa. He received his JD from Rutgers School of Law.

Mr. Forman is a member of a number of civic and charitable boards, including The Franklin Institute, Drexel University and the Philadelphia Center City District Foundation. He is also Chairman of Vetri Community Partnership and Philadelphia Contemporary.

Mr. Forman is deeply committed to the arts and supporting Philadelphia’s growing community of visual and performing artists. Forman shares his passion for diverse art and emerging visual artists with his wife, Jennifer Rice. Many pieces from their collection are on loan to FS Investments and displayed at the company’s headquarters. The collection serves as a source of creativity and innovation, inspiring FS colleagues to think differently through the lens of art. This same philosophy extends to Forman’s role as a co-founding partner of The Fitler Club, a new social club located in Center City, Philadelphia, with a foundational commitment to philanthropy and civic engagement.

The FS Foundation proudly supports a number of Philadelphia art-focused organizations, including the Philadelphia Museum of Art, the Barnes Foundation and Mural Arts Philadelphia. Michael’s passion for culture and innovation are reflected in his generous support of FringeArts over the past decade, enabling the expansion of the organization and establishment of its permanent home on the Delaware Waterfront.


Richard Vague is currently managing partner of Gabriel Investments, an early stage venture capital fund, and chair of The Governor’s Woods Foundation, a non-profit philanthropic organization. Previously, he was co-founder and CEO of Energy Plus, and also co-founder and CEO of two consumer banks, First USA and Juniper Financial.

You may have noticed Mr. Vague in the news recently regarding his comprehensive research into our current political landscape and the economic impact on the middle class, his own political objectives, and the release of his newest book, A Brief History of Doom, the follow up to his 2014 book on the global economy, The Next Economic Disaster. A Brief History of Doom covers financial crises in the six largest countries in the world over the last 200 years. In addition to his books, Vague has published articles on the economic landscape for outlets such as The Democracy Journal and The Atlantic, and serves as the editor of the blog delanceyplace.com, which focuses on non-fiction literature.

Mr. Vague currently serves on the board for a variety of organizations including the University of Pennsylvania Board of Trustees, Penn Medicine, the Franklin Institute, the Museum of the American Revolution, the Pennsylvania Academy of the Fine Arts and Visit Philadelphia.

Mr. Vague has been on the FringeArts board for 15 years, serving as its chair for the past ten. He has led the growth of the organization from an annual festival to a permanent venue with year-round programming, a residency program, and restaurant. Advocating independent thought, risk-taking, and creativity, Vague is a firm believer in the importance of the arts to the fabric of the city and has long championed FringeArts’ role as an incubator for local talent and discovery of ideas in Philadelphia. His leadership and creative vision have been indispensable to helping FringeArts achieve its vision.