Fifth Street Asset management exploring sale - WSJ

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

Amid deterioration in its loan portfolio and management turnover, Fifth Street Asset Management (FSAM +10.5%) is working with Morgan Stanley on a sale, writes Matt Jarzemsky in the WSJ. The company tried to sell itself last year, but was unsuccessful.

Most of the assets managed by FSAM are in Fifth Street Finance (FSC +0.9%) and Fifth Street Senior Floating Rate (FSFR +0.6%).

FSAM co-president, and FSC and FSFR CEO Patrick Dalton stepped down from those roles earlier in April after only three months on the job.