Daily News: December 1, 2016

Fifth Street Finance Names Dalton CEO


Fifth Street Finance appointed Patrick J. Dalton as CEO and a member of the board of directors, effective January 2, 2017. He will succeed Todd G. Owens, who will continue in his roles as CEO and a member of the board until that time. Dalton will also succeed Owens as co-president of Fifth Street Asset Management as co-president, effective January 2.

In addition, Ivelin M. Dimitrov will step down as president, CIO and a member of the board of directors, effective January 2, 2017.

Dalton joins Fifth Street from Gordon Brothers Finance, where he served as president, CEO and chair of the Investment Committee from 2012 to 2016. Previously, he was president and COO at Apollo Investment from 2008 to 2012, CIO and portfolio manager at Apollo Investment Management from 2007 to 2012 and a partner at Apollo Global Management from 2004 to 2012.

Dalton previously served as a vice president at Goldman Sachs, Chase Securities and Chase Manhattan Bank.

“We’re incredibly excited to have Patrick, an accomplished investment management executive with demonstrated success managing a public business development company, taking the reins at FSC,” said Bernard D. Berman, chairman of the FSC board of directors. “Given his more than 25 years of investment experience, we’re pleased that Patrick will take over primary responsibility for all aspects of FSC’s investment and operating strategy. We are confident that Patrick has the unique skills and experience to continue executing on FSC’s goal of driving shareholder value. We sincerely thank both Todd and Ivelin for their numerous contributions to FSC and we are confident that they will both help ensure a smooth leadership transition.”

Fifth Street Finance is a specialty finance company that provides custom-tailored financing solutions to small and mid-sized companies.