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Fifth Street Finance Announces Promotes Noreika to CFO Post

July 13, 2015, 07:29 AM

Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp. announced that the Boards of Directors for both FSC and FSFR have promoted Steven M. Noreika to Chief Financial Officer, replacing Richard A. Petrocelli, who will be leaving Fifth Street to pursue other opportunities effective July 10, 2015. We would like to thank Rich for his contributions during his tenure and wish him success in his future endeavors. Alexander C. Frank remains Chief Financial Officer of Fifth Street Asset Management Inc., the parent company of FSC and FSFR's investment adviser.

Prior to his promotion, Noreika had been serving as the Chief Accounting Officer of FSAM. Noreika joined Fifth Street in September 2008 and during his tenure, he has held various finance and accounting positions, including Chief Financial Officer of FSFR from November 2013 to July 2014. Prior to joining Fifth Street, he spent six years at Time Warner Inc., where he was a manager of internal reporting, and prior to that he managed audit and tax engagements at Marcum & Kliegman, LLP (now Marcum LLP). Noreika is a Certified Public Accountant and holds a B.B.A in Accounting from Pace University. He is also a holder of the Chartered Financial Analyst designation.

"Steve has been a valuable member of Fifth Street's finance and accounting team since joining in 2008, holding various important roles within the organization. I am excited to work closely with Steve in his new role and believe that FSC and FSFR will benefit from the depth of his knowledge, financial acumen and experience across the Fifth Street platform," stated Todd G. Owens, Chief Executive Officer of FSC.

"Having worked with Steve for seven years I am extremely confident that he will serve effectively as the new CFO for both FSC and FSFR, helping strengthen our infrastructure to support both entities," commented Ivelin M. Dimitrov, Chief Executive Officer of FSFR, adding, "Steve's deep financial, accounting and operational experience, combined with his knowledge of both the Fifth Street platform and comfort with financial reporting make him a natural fit for this position."

Fifth Street Finance Corp. is a leading specialty finance company that provides custom-tailored financing solutions to small and mid-sized companies, primarily in connection with investments by private equity sponsors. The company originates and invests in one-stop financings, first lien, second lien, mezzanine debt and equity co-investments.

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