Fifth Street Strengthens Senior Leadership
Fifth Street Senior Floating Rate announced that its board of directors promoted Ivelin M. Dimitrov to CEO from president and chief investment officer, while also appointing him as a member of the board of directors.
Additionally, the board appointed industry veteran Todd G. Owens as president and Douglas F. Ray as an independent director to serve on the board of directors in a newly created seat. Leonard M. Tannenbaum, who stepped down as a director, vice chairman of the board of directors and CEO, will continue to serve as CEO of Fifth Street Finance and Fifth Street Management, FSFR’s and FSC’s investment adviser.
“These strategic appointments provide FSFR with a strong team to manage the company’s recent gains in size and scale,” said Leonard M. Tannenbaum. “Ivelin is deeply familiar with the company’s investment activities through his roles as President and chief investment officer and can utilize that experience as he continues to grow FSFR into a market leader. After working with Ivelin for almost 10 years, I believe this transition reflects both confidence in Ivelin’s leadership, as well as the depth and breadth of our team.”
Dimitrov joined Fifth Street in May 2005 and is a partner and investment committee member of Fifth Street Management. He is also a member of FSC’s board of directors and chairman of the board of directors of Healthcare Finance Group, a portfolio company of FSC.
Owens is a 24-year veteran of Goldman, Sachs and brings with him a breadth of experience in a number of financial service sectors including commercial finance, asset management, alternative asset management, commercial banking and business development companies. At Goldman Sachs, Owens served in various roles including Head of the West Coast Financial Institutions Group, head of the Specialty Finance Group and was a senior member of its Bank Group. Owens’ appointment will take effect on September 29, 2014.
Ray, a member of the board of directors of FSC since December 2007, currently serves as president of Seavest, a private investment and wealth management firm based in White Plains, NY. Ray brings with him a deep expertise in acquiring, developing, financing and managing a diverse portfolio of real estate investments. Ray has also served on the board of directors of Nat Nast, a luxury men’s apparel company.