CEO and CIO fired at Fifth Street Finance

|About: Fifth Street Asset Manag... (FSAM)|By:, SA News Editor

CEO Todd Owens and CIO Ivelin Dimitrov will step down, effective January 2.

Patrick Dalton has been selected to replace Owens. Dalton comes over from Gordon Brothers Finance, where he was CEO and chair of the Investment Committee from 2012-2016. Prior to that he was COO at Apollo Investment.

Dalton will also join Fifth Street Asset Management (NASDAQ:FSAM) as co-president, also succeeding the exiting Owens.

Fifth Street (NYSE:FSC) last night announced its FQ4, with inline NII of $0.18 per share. Net asset value of $7.97 per share slipped from $8.15 three months earlier.

Shares are inactive premarket, but were down 1% after hours last night to $5.84.