WHITE PLAINS, N.Y., June 3, 2011 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NYSE:FSC) ("Fifth Street") is delighted to announce that it has been recognized as both "Debt Financing Agent of the Year" and "Senior Secured Financing Agent of the Year" for 2011 by The M&A Advisor.
"We are honored to receive these accolades from The M&A Advisor, which reflect our conscious evolution over the past year in response to changing market dynamics. By expanding our leverage capabilities and lowering our cost of capital, we can now accommodate a wider range of financing solutions and partner with sponsors in ways that better meet their needs," said Leonard Tannenbaum, Fifth Street's Chief Executive Officer, adding that, "this is the second time in the past three years that we have earned the top debt financing agent distinction and we are also very pleased to have our senior secured efforts recognized."
"Firms like Fifth Street should be commended for consistently acting as a flexible, long-term partner to the private equity industry," commented Roger Aguinaldo, CEO and Founder, M&A Advisor Awards, adding that, "as a recipient of the industry's highest honors, they've demonstrated the ability to help sponsors successfully execute the visions of their underlying portfolio companies."
By carefully cultivating diverse sources of funding and paying close attention to cost, Fifth Street significantly expanded its balance sheet capacity—and in turn—its flexibility. As a result of these efforts, Fifth Street more than doubled its assets under management reaching approximately $1 billion for the twelve month period ended as of March 31, 2011.
Judging for the award is based on both quantitative and qualitative criteria. Consideration is given to quantitative factors such as transaction value, impact on shareholder/company value and market share. From a qualitative perspective, the panel evaluates the impact of transactions on the market/industry, ingenuity in structuring and/or negotiations, diligence and perseverance in consummating deals and other unique attributes.
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.
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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 Fifth Street Finance Corp.'s 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.
CONTACT: Fifth Street Finance Corp. Stacey Thorne, Executive Director, Investor Relations (914) 286-6811 email@example.com