Exhibit 10.23



COMMITMENT INCREASE AGREEMENT



November 8, 2018



JPMorgan Chase Bank, N.A.,
as

Administrative Agent for the Lenders

party to the Credit Agreement referred

to below (the “Administrative Agent”)

500 Stanton Christiana Road,
NCC5/Floor 1

Newark, DE 19713



Ladies and Gentlemen:



We refer to the Senior Secured Revolving Credit
Agreement dated as of August 9, 2018 (as amended, modified or supplemented from time to time, the “Credit Agreement”;
the terms defined therein being used herein as therein defined) between Corporate Capital Trust, Inc. (“CCT”),
FS Investment Corporation (“FSIC”), FS Investment Corporation II (“FSIC II”), FS Investment
Corporation III (“FSIC III”, and together with CCT, FSIC and FSIC II, the “Borrowers”), the
Lenders party thereto, ING Capital LLC, as Collateral Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent for said
Lenders. You have advised us that FSIC (the “Relevant Borrower”) has requested in a letter dated November 8,
2018 (the “Increase Request”) from the Relevant Borrower to the Administrative Agent that the aggregate amount
of the Commitments be increased on the terms and subject to the conditions set forth herein.



A. Commitment Increase. Pursuant to
Section 2.07(e) of the Credit Agreement, BNP Paribas (the “Assuming Lender”), hereby agrees to make Loans
in the amount set forth opposite the name of the Assuming Lender listed in Schedule I hereto pursuant to the instruction of the
Administrative Agent, such Loans to be effective as of the Increase Date (as defined in the Increase Request); provided that the
Administrative Agent shall have received a duly executed officer’s certificate from the Relevant Borrower, dated the Increase
Date, in substantially the form of Exhibit I hereto.



B. Confirmation of Assuming Lender.
The Assuming Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with
copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance
upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; and (iii) acknowledges
and agrees that, from and after the Increase Date, the Commitment Increase set forth opposite the name of the Assuming Lender listed
in Schedule I hereto shall be included in the Commitment, and the Commitment Increase shall be governed for all purposes by the
Credit Agreement and the other Loan Documents.











| | Very truly yours,
| | -----------------
| |                  
| | BNP PARIBAS      
| |                  
| | By:              
| |                  
| |                  
| |                  
| | By:              
| |                  
| |                  











|Accepted and agreed:          |                               
|----------------------------- | ------------------------------
|                              |                               
|CORPORATE CAPITAL TRUST, INC. |                               
|                              |                               
|By:                           | /s/ Ryan Wilson               
|                              | Name: Ryan Wilson             
|                              | Title: Chief Operating Officer











|FS INVESTMENT CORPORATION |                               
|------------------------- | ------------------------------
|                          |                               
|By:                       | /s/ William Goebel            
|                          | Name: William Goebel          
|                          | Title: Chief Financial Officer











|FS INVESTMENT CORPORATION II |                               
|---------------------------- | ------------------------------
|                             |                               
|By:                          | /s/ William Goebel            
|                             | Name: William Goebel          
|                             | Title: Chief Financial Officer











|FS INVESTMENT CORPORATION III |                               
|----------------------------- | ------------------------------
|                              |                               
|By:                           | /s/ William Goebel            
|                              | Name: William Goebel          
|                              | Title: Chief Financial Officer











|Acknowledged:              |                      
|-------------------------- | ---------------------
|JPMORGAN CHASE BANK, N.A., |                      
|as Administrative Agent    |                      
|                           |                      
|By:                        | /s/ Alfred Chi       
|                           | Name: Alfred Chi     
|                           | Title: Vice President













|Acknowledged:              |                      
|-------------------------- | ---------------------
|JPMORGAN CHASE BANK, N.A., |                      
|as Issuing Bank            |                      
|                           |                      
|By:                        | /s/ Alfred Chi       
|                           | Name: Alfred Chi     
|                           | Title: Vice President















|Acknowledged:     |                         
|----------------- | ------------------------
|BANK OF MONTREAL, |                         
|as Issuing Bank   |                         
|                  |                         
|By:               | /s/ Brian L. Banke      
|                  | Name: Brian L. Banke    
|                  | Title: Managing Director











|Acknowledged:   |                   
|--------------- | ------------------
|SUNTRUST BANK,  |                   
|as Issuing Bank |                   
|                |                   
|By:             | /s/ Doug Kennedy  
|                | Name: Doug Kennedy
|                | Title: Director   











|Acknowledged:    |                             
|---------------- | ----------------------------
|ING CAPITAL LLC, |                             
|as Issuing Bank  |                             
|                 |                             
|By:              | /s/ Patrick Frisch          
|                 | Name: Patrick Frisch        
|                 | Title: Managing Director    
|                 |                             
|By:              | /s/ Dominik G. Breuer       
|                 | Name: Dominik G. Breuer, CFA
|                 | Title: Vice President       











SCHEDULE I



|Assuming Lender |  | Commitment |              
|--------------- |  | ---------- | -------------
|                |  |            |              
|BNP Paribas     |  | $          | 30,000,000.00