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Fifth Street Asset Management rolls out IPO

Fifth Street Asset Management, a credit-focused asset manager, has raised $102 million for its IPO after pricing its 6 million shares at $17 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “FSAM.” Morgan Stanley, J.P. Morgan, Goldman Sachs, RBC Capital Markets and Credit Suisse are the lead underwriters.


GREENWICH, CT, Oct. 29, 2014 (GLOBE NEWSWIRE) — Fifth Street Asset Management Inc.(“FSAM” or the “Company”) today announced the pricing of its initial public offering of 6,000,000 shares of Class A common stock at $17.00 per share. The shares are expected to begin trading tomorrow, October 30, 2014, on the NASDAQ Global Select Market under the symbol “FSAM.”

In addition, the underwriters will have a 30-day option to purchase up to an additional 900,000 shares of Class A common stock. The offering is expected to close on or about November 4, 2014, subject to satisfaction of customary closing conditions.
FSAM intends to use net proceeds it will receive from the offering to purchase limited partnership interests of Fifth Street Holdings L.P. from its limited partners.

Morgan Stanley, J.P. Morgan, Goldman, Sachs & Co., RBC Capital Markets and Credit Suisse are acting as joint book-running managers and representatives of the underwriters for the offering. SMBC Nikko, Deutsche Bank Securities, Barclays and UBS Investment Bank are also acting as book-running managers for the offering. Janney Montgomery Scott, JMP Securities, Ladenburg Thalmann, KeyBanc Capital Markets, ING, Maxim Group LLC, MLV & Co., Sterne Agee, National Securities Corporation and Natixis are acting as co-managers for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of any of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction. A registration statement relating to these securities was filed with and has been declared effective by the U.S. Securities and Exchange Commission.

The offering may be made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained, when available, from:

Morgan Stanley & Co. LLC
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: (866) 718-1649

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Attention: Prospectus Department
Telephone: (866) 803-9204

Goldman, Sachs & Co.
Attention: Prospectus Department
200 West Street
New York, NY 10282
Telephone: (866) 471-2526

RBC Capital Markets, LLC
Attn: Equity Syndicate
Three World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281-8098
Telephone: (877) 822-4089

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue, New York, NY 10010
Telephone: 800-221-1037

About Fifth Street Asset Management
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a rapidly growing credit-focused asset manager. The firm has nearly $6 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 a 16-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 are supported by approximately 90 professionals across locations in Greenwich, Chicago, Palo Alto and Dallas.