Fifth Street Asset Management pulls IPO

• Market conditions are not optimal for an IPO at this time," says CEO Len Tannenbaum. About 95% of OTCPK:FSAM's $5.6B of AUM are in Fifth Street Finance (FSC -0.1%) and Fifth Street Floating Rate (FSFR -1.2%), both of which have struggled of late (along with the BDC sector in general) - FSFR is down 20% since July 1 and FSC is lower by 11%.
• Press release