FSAM News

Four IPOs raised $1.2 billion during the past week, the third week in a row with five or less. Year-to-date, the IPO market has seen 235 initial public offerings raise $75 billion. The week's energy, health care, finance and consumer IPOs saw moderate returns, led by the year's largest and best-performing MLP, Shell Midstream Partners LP, which upsized its $920 million offering and...read more

Fifth Street Asset Management, a credit-focused alternative asset manager with $5.6 billion in AUM, raised $102 million by offering 6 million shares at $17, as expected. The company had originally planned to raise $200 million by offering 8 million shares at $24 to $26 before pulling the deal last week and significantly cutting the valuation earlier this week. Fifth Street Asset...read more

Fifth Street Asset Management, a credit-focused alternative asset manager with $5.6 billion in AUM, revived plans for an upcoming IPO on Tuesday and lowered the proposed price and shares offered. The Greenwich, CT-based company now plans to raise $102 million by offering 6.0 million shares at a price of $17, giving it a diluted market cap of $850 million. Fifth Street had...read more

Fifth Street Asset Management, a credit-focused alternative asset manager with $5.6 billion in AUM, postponed its IPO on Wednesday citing market volatility. The Greenwich, CT-based company was founded in 1998 and booked $88 million in sales for the 12 months ended June 30, 2014. Fifth Street Asset Management initially filed confidentially on 7/23/2014. Morgan Stanley, J.P....read more