Michael C. Forman and Jennifer Rice
Investment fund management (FS Investments)
Michael C. Forman is the chief executive of the asset management firm FS Investments, which is regarded as one of the nation’s leading investment managers, having amassed approximately $25 billion in assets. The company has found immense success in its innovative approach to democratizing investments; more specifically, it makes loans to private companies available to any client reporting an income of at least $70,000 and willing to make a minimum investment of $5,000.“It’s about saving for retirement, saving for education,” he told The Philadelphia Citizen in 2009.
At FS, Forman has made a positive company culture paramount as it reportedly offers art classes and cooking classes. He also displays art from his collection at the firm’s newly built headquarters in the Navy Yard neighborhood of Philadelphia.
Forman and his wife, Jennifer Rice, focus on collecting modern and contemporary art, including the likes of Sean Scully, Gerhard Richter, Joan Mitchell, and Robert Motherwell, among others. They have also focused on collecting work by artists of color, with artists like Theaster Gates, Alma Thomas, and Sam Gilliam. “We’ve always drawn inspiration, passion, and creativity from art, and we felt it was important to infuse that spirit into our company’s culture,” Forman told ARTnews.
Forman also serves on the corporate leadership board of the Barnes Foundation in Philadelphia. In 2017 Forman was honored by Mural Arts Philadelphia, a nonprofit dedicated to supporting collaborative public art projects and high-quality art education and training programs, for his “dedication to the city’s public art initiatives.”