Fifth Street Asset Management Inc. Announces the Appointment of Two New Directors and a Lead Independent Director
December 16 2015 - 4:30PM
Fifth Street Asset Management Inc. (NASDAQ:FSAM) (“FSAM”) today
announced that Thomas H. Brandt and James F. Velgot have been
appointed to serve as directors of the Company, effective December
14, 2015. Mr. Brandt and Mr. Velgot fill the vacancies
created by the resignations of David J. Anderson and Mark J.
Gordon. Additionally, Thomas L. Harrison, who has served on
the Board of Directors as Chairman of the Audit Committee since
October 2014, has been appointed as lead independent director. Mr.
Brandt will serve on the Audit Committee.
“We are delighted to welcome Tom and Jim, who both bring over 30
years of business experience, to FSAM’s Board of Directors.
We believe that both Tom and Jim will provide unique perspectives,
strategic guidance and valuable insights to our Board of
Directors. Additionally, Tom Harrison has been an important
voice and invaluable member of FSAM’s Board and we look forward to
his continued contributions in the role of lead independent
director,” stated FSAM’s Chief Executive Officer, Leonard M.
Tannenbaum, adding “We would like to thank David Anderson and Mark
Gordon for their guidance and service as directors during their
tenure.”
Mr. Brandt serves as co-owner and Director of Real Estate of
College Street Foods, LLC, since January 2012. Previously, he
was the Co-Chief Executive Officer and a member of the boards of
directors of Trans-Lux Corporation and Storyteller Theatres
Corporation. During his combined 27 years with both of these
companies, Mr. Brandt focused on the motion picture exhibition
industry through owning, operating and expanding a state of the art
cinema chain in New England and the Southwest United States.
Mr. Brandt received his B.S. degree from Skidmore College in
1985.
Mr. Velgot joined Fifth Street in July 2010 and served as Chief
Marketing Officer for the Fifth Street platform until 2015, at
which time he was appointed to his current role, as Chief of
Staff. Mr. Velgot has dedicated the past 30 years of his
career to marketing, creative services and brand strategy in the
financial services sector, with more than 20 of those years spent
at Sanford C. Bernstein & Co., now AllianceBernstein.
Before joining Sanford Bernstein, Mr. Velgot worked at Kidder
Peabody and Coopers & Lybrand. Mr. Velgot received his
B.F.A. in Communications Design from Pratt Institute.
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a nationally
recognized credit-focused asset manager. The firm has over $5
billion of assets under management across two publicly-traded
business development companies, Fifth Street Finance Corp.
(NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR), as well as multiple private investment
vehicles. The Fifth Street platform provides innovative and
customized financing solutions to small and mid-sized businesses
across the capital structure through complementary investment
vehicles and co-investment capabilities. With over a 17-year
track record focused on disciplined credit investing across
multiple economic cycles, Fifth Street is led by a seasoned
management team that has issued billions of dollars in public
equity, private capital and public debt securities. Fifth
Street’s national origination strategy, proven track record and
established platform are supported by nearly 100 professionals
across locations in Greenwich, Chicago and San Francisco. For
more information, please visit fsam.fifthstreetfinance.com
Forward-Looking Statements
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of the company. Words such as “believes,”
“expects,” “estimates,” “projects,” “anticipates,” and “future” or
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to
the inherent uncertainties in predicting future results and
conditions. Certain factors could cause actual results to
differ materially from those projected in these forward-looking
statements, and these factors are identified from time to time in
the company’s filings with the Securities and Exchange
Commission. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACT:
Investor Contact:
Robyn Friedman, Senior Vice President, Head of Investor Relations
(203) 681-3720
ir-fsam@fifthstreetfinance.com
Media Contact:
Tom Becker
Sitrick And Company
(212) 573-6100
Tom_Becker@sitrick.com
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