Fifth Street Finance Corp. Announces Leadership Transition
April 05 2017 - 8:30AM
Fifth Street Finance Corp. (NASDAQ:FSC) (“FSC”) today announced
that Bernard D. Berman, Chairman of FSC and Fifth Street Senior
Floating Rate Corp. (NASDAQ:FSFR) (“FSFR”), as well as Co-President
and Chief Compliance Officer of Fifth Street Asset Management Inc.
(NASDAQ:FSAM) (“FSAM”), has been appointed as Chief Executive
Officer of FSC, effective immediately. This appointment follows the
resignation of Patrick J. Dalton, who has left for reasons
unrelated to the Fifth Street companies’ operational or financial
performance.
Leonard M. Tannenbaum, Chairman and CEO of FSAM, said, “We
remain committed to executing on our stated initiatives to improve
performance, stabilize NAV and create long-term value at FSC and
FSFR, our publicly-traded BDCs. We have made significant progress
in recent months and will evaluate all opportunities to maximize
shareholder value.”
About Fifth Street Finance Corp.Fifth Street
Finance Corp. is a leading specialty finance company that provides
custom-tailored financing solutions to small and mid-sized
companies, primarily in connection with investments by private
equity sponsors. FSC originates and invests in one-stop
financings, first lien, second lien, mezzanine debt and equity
co-investments. FSC's investment objective is to maximize its
portfolio's total return by generating current income from its debt
investments and capital appreciation from its equity investments.
FSC has elected to be regulated as a business development company
and is externally managed by a subsidiary of Fifth Street Asset
Management Inc. (NASDAQ:FSAM), a nationally recognized
credit-focused asset manager with approximately $5 billion in
assets under management across multiple public and private
vehicles. With a track record of nearly 20 years, the Fifth Street
platform received the 2015 ACG New York Champion's Award for
"Lender Firm of the Year," and other previously received accolades
include the ACG New York Champion's Award for "Senior Lender Firm
of the Year," "Lender Firm of the Year" by The M&A Advisor and
"Lender of the Year" by Mergers & Acquisitions. FSC's
website can be accessed at fsc.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 Fifth Street Finance
Corp. (“FSC”, or “Company”). 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 FSC’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 the Company’s operating
areas. FSC 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, Executive Director, Head of Investor Relations
(203) 681-3720
ir@fifthstreetfinance.com
Media Contact:
James Golden / Aura Reinhard / Andrew Squire
Joele Frank Wilkinson Brimmer Katcher
(212) 355-4449
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