FSFR Fifth Str SR Floating Rate Corp

Fifth Street Asset Management Inc. (NASDAQ:FSAM) announced today that its affiliate, Fifth Street Management LLC (“Fifth Street”), served as Joint Lead Arranger in support of mergers for two different GTCR portfolio companies.  The two transactions represent the 15th and 16th financings that Fifth Street has completed in connection with Chicago, IL-based GTCR, a leading private equity firm focused on investing in growth companies. 

First, Fifth Street served as Joint Lead Arranger for a $130 million second lien credit facility supporting the merger of Onvoy, LLC and Inteliquent, Inc. (previously NASDAQ-listed IQNT).  Onvoy is a premier provider of wholesale voice-enabling services nationwide, while Inteliquent is the nation’s leading provider of competitive intercarrier switching.  The combination of both companies, which will operate under the Inteliquent brand, establishes a category leader in the wholesale communications enablement market. 

Additionally, Fifth Street served as Joint Lead Arranger for a $95 million first lien credit facility supporting the merger of Convergex’s Options Trading and Technology business, LiquidPoint, with Dash Financial LLC.  Dash is an institutional trading technology, execution and analytics provider for the options and equity markets, while LiquidPoint offers advanced proprietary options routing and technology, high-touch services and clearing solutions.  The combined company, which will operate as Dash Financial Technologies, creates a leading trading technology provider to the buy side, sell side and exchange communities.  

“We are excited to once again support our longstanding partner, GTCR, on these two transactions.  We initially helped finance the Onvoy acquisition in April 2016 and are pleased to support the company’s continued growth.  We believe that Inteliquent’s established network and footprint, along with Onvoy’s differentiated next-generation capabilities uniquely position the combined company to be an industry-leading provider of communication enablement solutions,” noted Sunny Khorana, Managing Director and Head of Sponsor Coverage at Fifth Street.  “We are also honored to be chosen as a lead lender on the LiquidPoint-Dash merger, as the combination of these two highly complementary, best-in-class trading technology platforms creates a comprehensive end-to-end product suite for the institutional trading community and a clear leader in the U.S. options agency execution space.”

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries.  The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth.  Since its inception, GTCR has invested more than $12 billion in over 200 companies.  For more information about GTCR, please visit www.gtcr.com.

About Inteliquent, Inc.

Inteliquent is a premier communications enabler offering network-based voice and messaging services to wireless, cable, carriers, and communication service providers. Inteliquent's comprehensive suite of services include Inbound Voice, Outbound Voice, Toll Free, Neutral Tandem and Messaging services. Inteliquent offers services in 192 markets and reaches 7,400 rate centers carrying over 25 billion minutes of traffic per month. For more information, please visit inteliquent.com.

About Dash Financial Technologies

Dash Financial Technologies is a leading trading technology provider to the institutional trading community. With a suite of highly customizable tools, Dash designs and delivers intelligent, high performance solutions in four product categories: Trading Technologies, Execution Services, Analytics and Regulatory Technologies. With a relentless focus on transparency, performance and customization, Dash Financial Technologies caters to institutions that require increasingly specialized, complex and adaptable tools to exceed their goals surrounding best execution performance. For more information, please visit dashfinancial.com.

About Fifth Street Asset Management Inc.

Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a nationally recognized credit-focused asset manager. The firm has approximately $5 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR), as well as multiple private investment vehicles. The Fifth Street platform provides innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities. With over an 18-year track record focused on disciplined credit investing across multiple economic cycles, Fifth Street is led by a seasoned management team that has issued billions of dollars in public equity, private capital and public debt securities. Fifth Street's national origination strategy, proven track record and established platform have allowed the firm to surpass $10 billion of loan commitments since inception. For more information, please visit fsam.fifthstreetfinance.com.

Forward-Looking Statements

This press release may contain, and certain oral statements made by our representatives from time to time may contain, forward-looking statements, because they relate to future events or our future performance or financial condition. Forward-looking statements may include statements as to the fees charged by FSAM to FSC and FSFR, FSAM’s future operating results, dividends by FSAM and business prospects of FSAM.  Words such as “believes,” “expects,” “seeks,” “plans,” “should,” “estimates,” “project,” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. These forward-looking statements involve risks and uncertainties. Actual results could differ materially from those implied or expressed in these forward-looking statements for any reason.  Such factors are identified from time to time in FSAM’s filings with the Securities and Exchange Commission and include changes in the economy, the financial markets and future changes in laws or regulations, competitive conditions in the business development company space and conditions in FSAM’s operating areas.  FSAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:

Investor Contact: 
Robyn Friedman, Executive Director, Head of Investor Relations
(203) 681-3720 
ir-fsam@fifthstreetfinance.com

Media Contact: 
James Golden / Aura Reinhard / Andrew Squire
Joele Frank Wilkinson Brimmer Katcher
(212) 355-4449