GREENWICH, CT, Dec. 16, 2014 (GLOBE NEWSWIRE) -- Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) ("FSFR") announced today that eight members of the senior management teams of FSFR and its affiliate Fifth Street Asset Management Inc. (NASDAQ:FSAM) ("FSAM") purchased FSFR's common shares in the open market following last Wednesday's release of the Company's financial results for the quarter and fiscal year ended September 30, 2014.
Senior management owns 5.4% of FSFR common shares, including Leonard Tannenbaum, Chief Executive Officer of FSAM, who purchased 728,363 shares of FSFR since last Thursday.
"As a management team, we are very excited about the future of FSFR and the opportunities available in the senior secured loan market. Furthering the alignment with our shareholders, members of the senior management teams of FSFR and FSAM collectively purchased $7.6 million of common stock since last Thursday. We look forward to continuing to execute on our plan to drive value for shareholders," stated FSFR's Chief Executive Officer, Ivelin M. Dimitrov.
The share purchases made were not part of a Company repurchase program and were direct cash purchases made by the individuals and not guaranteed by the Company.
About Fifth Street Senior Floating Rate Corp.
Fifth Street Senior Floating Rate Corp. is a specialty finance company that provides financing solutions in the form of floating rate senior secured loans to mid-sized companies, primarily in connection with investments by private equity sponsors. FSFR's investment objective is to maximize its portfolio's total return by generating current income from its debt investments while seeking to preserve its capital. The company 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 rapidly growing credit-focused asset manager with over $6 billion in assets under management across multiple public and private vehicles. With a track record of more than 16 years, Fifth Street's nationally recognized platform has the ability to hold loans up to $250 million and structure and syndicate transactions up to $500 million. Fifth Street 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. FSFR's website can be found at fsfr.fifthstreetfinance.com.
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.
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Source:Fifth Street Senior Floating Rate Corp.