GREENWICH, CT, June 26, 2014 (GLOBE NEWSWIRE) -- Fifth Street Management LLC ("Fifth Street") today announced that it has been named "Senior Lender Firm of the Year" at the 4th Annual ACG New York Champion's Awards. The event, which took place at the Metropolitan Club in New York, NY on June 19, was a collaboration between the ACG (Association for Corporate Growth) New York chapter and The M&A Advisor, designed to recognize outstanding firms, deals and dealmakers in the middle market mergers and acquisitions (M&A) industry.
"We are thrilled to accept this accolade, particularly in light of the finalists," said James Velgot, Fifth Street's Chief Marketing Officer, adding, "To be chosen as 'Senior Lender Firm of the Year' from among East West Bank, Golub Capital and Salus Capital Partners is a great honor, underscoring Fifth Street's position as a leading alternative asset manager and the strength of our senior financing solutions."
Due to the strong demand for the firm's senior debt products, Fifth Street continues to expand its array of investment vehicles focused on senior secured middle market loans in order to better support its clients. Fifth Street's affiliate, Fifth Street Senior Floating Rate Corp. (Nasdaq:FSFR), is approaching its one-year anniversary as a public company with a high-quality portfolio of 100% senior secured floating rate loans and is structuring a strategic partnership with GF Funding 2014, an entity controlled by the Glick family, to establish a joint venture to co-invest in this asset class. This entity should be similar to the recently closed joint venture between another Fifth Street affiliate, Fifth Street Finance Corp. (Nasdaq:FSC) ("FSC"), and Trinity Universal Insurance Company, a subsidiary of Kemper Corporation. FSC is also in active discussions with several other third parties about additional partnerships.
"We celebrate outstanding individuals, firms and transactions that have helped drive America's middle market," said Martin Okner, President of ACG New York, adding that, "In so doing, we also recognize middle market private capital's important contribution to our national well-being. The middle market accounts for over 43 million U.S. jobs and 33% of U.S. GDP."
"Fifth Street was chosen from over 350 nominating companies to receive the award. It gives us great pleasure to recognize Fifth Street and bestow upon them one of our highest honors for M&A firms and professionals," said David Fergusson, President of The M&A Advisor, adding, "Fifth Street represents the best of the M&A industry in 2014 and earned this honor by standing out in a group of very impressive finalists."
An independent body of experts representing a cross-section of the middle market industry selected the winners from among finalists. Fifth Street was also recently named both 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the Year" by Mergers & Acquisitions.
About Fifth Street Management LLC
With over $4 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 offices 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 $150 million, commit up to $250 million and structure and syndicate transactions up to $500 million. Fifth Street's website can be found at fifthstreetfinance.com.
About The M&A Advisor
The M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. Over the past 16 years, the firm has established the premier global network of M&A, turnaround and finance professionals. Today, it has the privilege of presenting, recognizing the achievements of, and facilitating connections between the industry's top performers throughout the world with a comprehensive range of services.
About ACG NEW YORK
ACG® New York, Inc., the founding chapter of The Association for Corporate Growth, is the leading membership organization in New York that facilitates relationship building and focused education for middle market deal-making professionals.
Each year over 8,000 professionals participate in ACG New York's 70+ networking and educational events in New York City and Westchester and on Long Island, including healthcare, manufacturing & logistics and retail conferences. ACG DealSource® and ACG Capital Connection® events put buyers together with funding sources in scheduled private meetings and bring M&A specialists together for open networking.
The organization's annual Champion's Awards recognize the year's outstanding middle market firms and deals, while its Education Cup competition honors the best graduate business school team from the New York City area for M&A counseling prowess. These and other programs have spurred ACG New York's rapid growth in recent years, with membership now exceeding 1,000. This year ACG New York is celebrating the 60th anniversary of its founding by Peter Hilton.
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.