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Fifth Street Management LLC Announces That Todd G. Owens Will Join as Co-President and a Member of the Management Committee

GREENWICH, CT, Sept. 8, 2014 (GLOBE NEWSWIRE) -- Fifth Street Management LLC ("Fifth Street") today announced that Todd G. Owens has agreed to join the company as Co-President and a member of the management committee, effective September 29, 2014. In his role, Mr. Owens will be responsible for driving growth in Fifth Street's business by evaluating and executing strategic initiatives, as well as managing institutional capital raising efforts, investor relations and distribution channels.

A 24-year veteran of Goldman, Sachs & Co., Mr. Owens' experience spans a broad range of financial service sectors including commercial finance, asset management, alternative asset management, commercial banking and business development companies. As a Managing Director and a Partner at Goldman Sachs, he has held various positions including Head of the West Coast Financial Institutions Group for 15 years, Head of the Specialty Finance Group for almost a decade and a senior member of the Bank Group. He is a Trustee of Good Samaritan Hospital in Los Angeles and of City Year Los Angeles. Mr. Owens received a B.A. in History and Political Economics from Williams College in 1990.

"Todd and Goldman Sachs took our first BDC public in 2008 and since then Todd has been a valuable advisor to Fifth Street. His deep industry knowledge and specific understanding of our company, combined with his strong leadership skills, make him a unique and natural fit for this position," said Leonard M. Tannenbaum, Fifth Street's Chief Executive Officer.

"Len and the Fifth Street team have built an impressive business with a strong brand and a solid foundation for its continued growth," stated Todd Owens, adding, "I am extremely excited about joining such a cohesive management team to continue building upon Fifth Street's institutional platform, and I am enthusiastic about helping the company continue to diversify its business lines and expand its global reach."

About Fifth Street Management LLC

With over $5 billion in assets under management, Fifth Street Management LLC is a leading alternative asset manager with a core focus on credit strategies. The firm manages a number of private funds and is the SEC-registered investment adviser of two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR). With a track record of more than 16 years and locations across the country, Fifth Street's nationally recognized platform provides custom-tailored financing solutions to small and mid-sized companies, primarily in connection with investments by private equity sponsors. Principally in the form of one-stop financings, first lien, second lien, mezzanine debt and equity co-investments, the Fifth Street platform has the ability to hold loans up to $250 million and structure and syndicate transactions up to $500 million. Fifth Street Management received the 2014 ACG New York Champion's Award for "Senior Lender Firm of the Year" and was named both 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the Year" by Mergers & Acquisitions. Fifth Street's website can be found at fifthstreetfinance.com.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance(s) of Fifth Street Finance Corp. ("FSC") and/or Fifth Street Senior Floating Rate Corp. ("FSFR"). 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 FSC's and/or FSFR's filings with the Securities and Exchange Commission. Neither FSC nor FSFR undertake any 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, Vice President, Investor Relations (203) 681-3720 ir@fifthstreetfinance.com Media Contact: Nick Rust Prosek Partners (212) 279-3115 ext. 252 pro-fifthstreet@prosek.com

Source:Fifth Street Management LLC