Fifth Street Asset Management Inc. ("FSAM"), a rapidly growing credit-focused asset manager, announced that based on market conditions and continued volatility for new issuers in the equity markets, it has chosen not to proceed with its planned initial public offering ("IPO"). FSAM intends to withdraw its registration statement on Form S-1 as filed with the Securities and Exchange Commission.

"While we received demand from potential investors, market conditions are not optimal for an IPO at this time," said Leonard M. Tannenbaum, FSAM's Chief Executive Officer, adding, "We remain excited about the future and look forward to executing on our current initiatives to continue growing the Fifth Street platform."

Fifth Street Asset Management Inc. is a rapidly growing credit-focused asset manager. The firm has nearly $6 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR), as well as multiple private investment vehicles.