updated 10/13/2010 9:16:07 AM ET 2010-10-13T13:16:07

WHITE PLAINS, N.Y., Oct. 13, 2010 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NYSE:FSC) ("Fifth Street") today announced that Sunny Khorana has joined Fifth Street Management LLC, its investment adviser, as a Managing Director.

Mr. Khorana will be based in Fifth Street's new Chicago office and will be responsible for developing and maintaining private equity sponsor relationships and sourcing debt financing opportunities in the Midwest region of the United States.

Leonard M. Tannenbaum, Fifth Street's Chief Executive Officer, said, "We are delighted to have Sunny join Fifth Street's expanding team of professionals, and see the fit not only as timely, but as an integral next step in the evolution of our expansion plans. His presence and relationships in the Midwest region will help Fifth Street secure long-term partnerships now and into the future."

Mr. Khorana previously worked at CIT Group, Inc. where he served as a Director of the Sponsor Finance Team and was responsible for originating and structuring debt financings for middle market private equity firms. Mr. Khorana also worked at J.P. Morgan Securities, Inc. in its Leveraged Finance and Financial Sponsor Groups, as well as at KPMG LLP. Mr. Khorana has over 10 years of leveraged lending experience, primarily to the midwestern private equity community. He is a graduate of Indiana University and has an MBA in Finance and Corporate Strategy from the University of Michigan Ross School of Business.

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 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.

The Fifth Street Finance Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5525

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance of Fifth Street Finance Corp. 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 our filings with the Securities and Exchange Commission. Fifth Street Finance Corp. 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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