Business Context and Reporting Period
This Form 8-K is a current report filed by Fifth Street Finance Corp. on November 19, 2010. The filing addresses significant changes in the company's executive leadership structure. Note: The request metadata references "Oaktree Specialty Lending Corp," but the provided filing text explicitly identifies the registrant as Fifth Street Finance Corp.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure: Marc A. Goodman retired as Chief Investment Officer, effective November 15, 2010.
- Appointments: The Board of Directors elected Ivelin M. Dimitrov and Chad S. Blakeman as Co-Chief Investment Officers.
- Compensation: No special compensatory arrangements or understandings were disclosed beyond standard arrangements for the new officers.
Management Commentary and Background
The filing provides detailed professional backgrounds for the new Co-Chief Investment Officers:
- Ivelin M. Dimitrov: Age 32, with over six years of experience in structuring small and mid-cap transactions. He joined Fifth Street Management in May 2005, holds an M.S. in Finance from Boston College, and is a Chartered Financial Analyst (CFA). He previously served as Co-CIO of Fifth Street Management since June 2010.
- Chad S. Blakeman: Age 46, with over 24 years of lending-related experience. He joined Fifth Street Management in April 2010 as Managing Director. Prior experience includes roles at CastleGuard Partners LLC, Freeport Financial LLC (where he co-managed a $1.5 billion portfolio), GE Capital, and Bank of America. He holds an M.B.A. from DePaul University.
Investor Verification Checklist
- Verify the effective date of Marc A. Goodman's retirement (November 15, 2010) versus the announcement date (November 19, 2010).
- Confirm the specific divisional responsibilities assigned to the new Co-CIOs within the investment committee.
- Review subsequent filings for any undisclosed related-party transactions involving the new officers.
- Clarify the discrepancy between the request metadata (Oaktree Specialty Lending Corp) and the filing registrant (Fifth Street Finance Corp).