Fifth Street Management welcomes new director

Just after announcing a relocation to Greenwich, Fifth Street Management LLC recently followed that up with the appointment of Frederick Buffone as managing director and head of capital markets.

Mr. Buffone is responsible for middle market syndications and club transactions on behalf of Fifth Street Finance Corp. (FSC) and Fifth Street Senior Floating Rate Corp. (FSFR) — both business development companies.

Mr. Buffone has more than 20 years of experience in capital markets, principally focused on loan sales and syndications. Most recently, he served as director of debt capital markets & syndications at TD Securities LLC.

At TD Securities, Mr. Buffone’s responsibilities included structuring, pricing and syndicating loan products as well as assisting in the secondary trading of par loans.

Prior to that, he held similar roles at Jefferies & Company from 2004 to 2009 and CIBC World Markets from 2000 to 2004.

“Fred’s extensive background will be a tremendous asset as we expand our origination and syndication platform, particularly given the widespread demand for senior loans,” said Leonard Tannenbaum, CEO of Fifth Street.

Fifth Street recently became the investment adviser to its second business development community, FSFR, following its $100 million initial public offering in mid-July.

FSFR will focus on senior, floating rate transactions in the upper middle market in companies with EBITDA between $20 million and $100 million.

“Fred’s deep relationships and background in the world of senior and junior leveraged loans will be integral to both FSC and FSFR as we deploy a larger balance sheet, increase our target hold size and expand our comprehensive suite of financing solutions,” said Ivelin Dimitrov, Fifth Street’s chief investment officer. “Our capital markets efforts are organized around delivering fully underwritten solutions to our sponsor partners, while also investing in syndicated and club financings.”

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