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Fifth Street Finance Corp. (Nasdaq: FSC) announced that its Board of Directors has appointed Patrick J. Dalton as Chief Executive Officer and elected him as a member of the Board of Directors, effective January 2, 2017. Mr. Dalton will succeed Todd G. Owens, who will continue in his roles as CEO and a member of the Board of Directors until that time to facilitate a smooth transition. The Company also announced that Ivelin M. Dimitrov will step down from his roles as President, Chief Investment Officer and a member of the Board of Directors, effective January 2, 2017.
Mr. Dalton joins Fifth Street from Gordon Brothers Finance Company, where he served as President, CEO and Chair of the Investment Committee from 2012 to 2016. Prior to that role, he was President and Chief Operating Officer at Apollo Investment Corporation from 2008 to 2012; Chief Investment Officer and Portfolio Manager at Apollo Investment Management, L.P. from 2007 to 2012; and a partner at Apollo Global Management from 2004 to 2012. Mr. Dalton previously served as a Vice President at Goldman, Sachs & Co., Chase Securities Corp. and Chase Manhattan Bank.
“We’re incredibly excited to have Patrick, an accomplished investment management executive with demonstrated success managing a public business development company, taking the reins at FSC,” said Bernard D. Berman, Chairman of the FSC Board of Directors. “Given his more than 25 years of investment experience, we’re pleased that Patrick will take over primary responsibility for all aspects of FSC’s investment and operating strategy. We are confident…