Fifth Street Asset Management Inc. Announces the Closing of a Separately Managed Account With Large, Institutional Investor
January 19 2016 - 8:30AM
Fifth Street Asset Management Inc. (NASDAQ:FSAM) (“FSAM”) today
announced the closing of a separately managed account (“SMA”) with
a large, well-respected institutional investor who intends to
purchase a minimum of $50 million of middle-market loans in the
SMA.
As middle market loans remain in high demand by investors
seeking to access this specific asset class, the agreement provides
the institutional investor with access to Fifth Street’s leading
middle market origination platform. The investment is a
testament to Fifth Street’s 17-year track record of creating value
through its proprietary origination capabilities, strong
underwriting and portfolio management expertise. The
platform’s ability to provide unique, customized solutions across
the capital structure to middle market companies and gain access to
exclusive opportunities makes an SMA a compelling product for
institutions seeking middle market asset exposure.
“We are pleased to announce the closing of this separately
managed account with a high caliber institution, which we believe
is a testament to the value and strength of the Fifth Street
platform,” said Leonard M. Tannenbaum, Founder and Chief Executive
of FSAM, adding, “Our ability to originate unique, proprietary
middle market assets combined with our capacity to provide a
tailor-made solution presented an attractive opportunity for our
new investor. We are looking forward to beginning our
relationship with our new client and remain excited about the
prospects of growing our institutional business line.”
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 approximately 80
professionals across locations in Greenwich, Chicago and San
Francisco. For more information, please visit
fsam.fifthstreetfinance.com.
Forward-Looking Statements
Some of the statements in this press release constitute
forward-looking statements, because they relate to future events or
our future performance or financial condition. Forward-looking
statements may include statements as to the future operating
results, dividends and business prospects of FSAM. Words such
as “believes,” “expects,” “seeks,” “plans,” “should,” “estimates,”
“project,” and “intend” indicate forward-looking statements,
although not all forward-looking statements include these words.
These forward-looking statements involve risks and uncertainties.
Actual results could differ materially from those implied or
expressed in these forward-looking statements for any reason.
Such factors are identified from time to time in FSAM’s filings
with the Securities and Exchange Commission and include changes in
the economy and the financial markets and future changes in laws or
regulations and conditions in FSAM’s operating areas. FSAM
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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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