Boston, MA 05\/09\/2014 (wallstreetpr) \u2013\u00a0Fifth Street Finance Corp. (<\/b>NASDAQ:FSC)<\/b> announced forming a joint investment venture with Kemper Corporation’s (KMPR) subsidiary Trinity Universal Insurance Company (“Trinity”).The Venture will\u00a0 work on creating a\u00a0 company for managing Senior Level notes and would be called “Senior Loan Fund JV I, LLC” . FSC, as a leading specialty finance company, is ensuring consistency with the firm\u2019s\u00a0 strategy of making investments\u00a0 with a focus on middle market and additional corporate lending as part of the joint venture.<\/p>\n
Leonard M. Tannenbaum, Chief Executive Officer of FSC said “SLF JVI strengthens our bond with Kemper\u2019s investment team signifying the value of our integration with middle market origination platform. Our private equity clients will benefit from additionally available financing solutions. Growing the joint venture should lead to higher yielding on equity. Net investment revenue per share at FSC\u00a0 is bound to increase. The positive signals confirm the implementation of outlined strategic initiatives leading to increased revenues.\u201d<\/p>\n
M. Boschelli, Kemper\u2019s Chief Investment Officer further added \u201cFifth Street\u2018s expertise and experience in originating, underwriting and managing of middle market credits will be completely leveraged with this joint venture. During our eight-year relationship, we have invested in Fifth Street Finance Corp. (NASDAQ:FSC)\u2019s platform a number of times. But this joint venture is special. We will invest in a layered and structured high-returns environment, and the choice of accepting the underlying investments is at our disposition.”<\/p>\n
A $100 million of subordinated notes and equity Fifth Street Finance Corp. (NASDAQ:FSC) and Trinity will be provided to the joint venture by FSC and Trinity with each contributing $87.5 million $12.5 million respectively. An approximate $200 million is expected to be generated through third party financing for SLF JV I. It is expected that initial funding will come from existing assets provided by FSC.<\/p>\n
The joint venture has a strong footing in the industry and is expected to be a win-win situation for both the parties involved.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/09\/2014 (wallstreetpr) \u2013\u00a0Fifth Street Finance Corp. (NASDAQ:FSC) announced forming a joint investment venture with Kemper Corporation’s (KMPR) subsidiary Trinity Universal Insurance Company (“Trinity”).The […]<\/p>\n","protected":false},"author":32,"featured_media":21750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942,2236],"tags":[6488,6489],"stock_ticker":[],"class_list":["post-21744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-business","tag-fifth-street-finance-corp-nasdaqfsc","tag-nasdaqfsc","entry"],"acf":[],"yoast_head":"\n