Oaktree Capital Group signed an asset purchase agreement to become the new investment adviser to Fifth Street Finance and Fifth Street Senior Floating Rate.
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.
Fifth Street Finance finalized an amendment to extend the maturity and reduce pricing on its existing $125 million revolving credit facility with Sumitomo Mitsui Banking Corporation.
Fifth Street Finance promoted Todd G. Owens to CEO from his former role as president. Owens joined Fifth Street in September 2014 and serves as president of FSC and is a member of FSC’s board of directors.
Fifth Street Finance successfully exited its venture debt investment in SugarSync. The $6.5 million senior secured term loan was originated by Fifth Street Technology Partners in November 2013, and funded by FSC.
Fifth Street Finance increased the commitment to Senior Loan Fund JV I, its joint venture with Trinity Universal Insurance, a subsidiary of Kemper. The commitment doubled to $200 million from $100 million.
Fifth Street Finance announced additional commitments from one new and one existing lender to its syndicated credit facility led by ING Capital.
Fifth Street Finance and Fifth Street Senior Floating Rate co-invested in a $195 million one-stop financing facility and an equity in conjunction with Veritas Capital’s acquisition of BeyondTrust.