Fifth Street BDCs name finance chief

Fifth Street Finance Corp (FSC) and Fifth Street Senior Floating Rate Corp (FSFR) have promoted Steven Noreika to chief financial officer. He replaces Richard Petrocelli, who is leaving Fifth Street to pursue other opportunities, the Connecticut-based lender announced in a statement. Alexander Frank remains chief financial officer of Fifth Street Asset Management (FSAM), the parent company of the two business development companies (BDCs).

Prior to his promotion, Noreika was serving as the chief accounting officer of FSAM. Noreika joined Fifth Street in September 2008 and since then, has held various finance and accounting positions at the firm, including chief financial officer of FSFR from November 2013 to July 2014. Prior to joining Fifth Street, Noreika spent six years at Time Warner, where he was a manager of internal reporting, and prior to that, he managed audit and tax engagements at Marcum & Kliegman.

Fifth Street Asset Management is headquartered in Greenwich, Connecticut, and has about $6 billion in assets under management across the two BDCs, as well as some private funds and CLOs. The two BDCs and the parent company are all publicly traded on the NASDAQ stock exchange.