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Fifth Street Management LLC Announces New Head of Capital Markets Desk, Frederick Buffone

GREENWICH, Conn., Aug. 6, 2013 (GLOBE NEWSWIRE) -- Fifth Street Management LLC ("Fifth Street") today announced that Frederick Buffone has joined the company as a Managing Director and Head of Capital Markets. Mr. Buffone is responsible for middle market syndications and club transactions on behalf of Fifth Street Finance Corp. ("FSC") and Fifth Street Senior Floating Rate Corp. ("FSFR"), both business development companies ("BDCs").

Mr. Buffone has over 20 years of experience in capital markets, principally focused on loan sales and syndications. Most recently, he served as Director of Debt Capital Markets & Syndications at TD Securities (USA) LLC. At TD Securities (USA) LLC, Mr. Buffone's responsibilities included structuring, pricing and syndicating loan products as well as assisting in the secondary trading of par loans. Prior to that, he held similar roles at Jefferies & Company from 2004 to 2009 and CIBC World Markets from 2000 to 2004.

"Fred's extensive background will be a tremendous asset as we expand our origination and syndication platform, particularly given the widespread demand for senior loans," stated Leonard Tannenbaum, Fifth Street's Chief Executive Officer.

Fifth Street recently became the investment adviser to its second BDC, FSFR, following its $100 million initial public offering in mid-July. FSFR will focus on senior, floating rate transactions in the upper middle market in companies with EBITDA between $20 million and $100 million.

"Fred's deep relationships and background in the world of senior and junior leveraged loans will be integral to both FSC and FSFR as we deploy a larger balance sheet, increase our target hold size and expand our comprehensive suite of financing solutions," said Ivelin Dimitrov, Fifth Street's Chief Investment Officer. "Our capital markets efforts are organized around delivering fully underwritten solutions to our sponsor partners, while also investing in syndicated and club financings."

On a combined basis, the Fifth Street platform stands among a limited number of middle market lenders who have the ability to hold loans up to $150 million and underwrite and syndicate transactions up to $250 million.

About Fifth Street Management LLC

Fifth Street Management LLC is a leading alternative asset manager and the SEC-registered investment adviser to 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 15 years and a national presence including offices across the country, the Fifth Street platform provides comprehensive financing solutions to small and mid-sized companies, with the ability to hold loans up to $150 million and underwrite and syndicate transactions up to $250 million.

About Fifth Street Finance Corp.

Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. Fifth Street Finance Corp.'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.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a newly organized business development company that invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments. The loans bear interest at rates which are determined periodically on the basis of a floating base lending rate, made to private middle market companies whose debt is rated below investment grade. The company'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.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance(s) of FSC and/or FSFR. Words such as "believes," "expects," "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: Dean Choksi, Senior Vice President of Finance & Head of Investor Relations (914) 286-6855 dchoksi@fifthstreetfinance.com Corporate Development: Juan E. Alva, Managing Director, Head of Strategy & Corporate Development (818) 876-9665 juan@fifthstreetfinance.com Media Contact: James Velgot, Chief Marketing Officer (914) 286-6848 jvelgot@fifthstreetfinance.comSource:Fifth Street Management LLC;Fifth Street Senior Floating Rate Corp.