Fifth Street Finance Corp.’s (FSC) portfolio showed 11.4% weighted average yield last quarter, and the company has increased its net investment income per share consecutively in the past three years, while also exhibiting record levels of origination in the first half of this year, says Alexander C. Frank, CFO of Fifth Street Finance Corp.
“If you look at the last three fiscal years, net investment income per share was $0.95, $1.05 and $1.11 in 2010, 2011 and 2012, respectively. The first half of fiscal year 2013 we had record levels of origination, and I think our investors are currently receiving a strong yield on the stock. The weighted average yield of our portfolio is about 11.4% as of the quarter end March 31, 2013, which in this environment is an excellent return,” Frank said.
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Fifth Street is also seeing solid performance in portfolio investments in which they have partnered with private equity firms, Frank says. He believes there is more growth opportunity available for the stock and is optimistic about the company’s future.
“We have equity stakes in a number of portfolio investments where we partnered with private equity firms. Some of those companies are performing very well. We believe Fifth Street’s future is bright and are excited about the opportunity for NAV growth,” Frank said.
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