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[Letterhead of Sutherland Asbill & Brennan LLP]
June 4, 2010
VIA E-MAIL & EDGAR
Dominic Minore, Esq.
Senior Counsel
Division of Investment Management
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
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Re:
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Fifth Street Finance Corp. |
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Registration Statement on Form N-2 filed on April 12, 2010 |
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File No. 333-166012 |
Dear Mr. Minore:
On behalf of Fifth Street Finance Corp. (the Company), set forth below are the Companys
responses to the verbal comments provided by the staff of the Division of Investment Management
(the Staff) of the Securities and Exchange Commission (the SEC) to the Company on June 3, 2010.
The Staffs comments are set forth below in italics and are followed by the Companys responses.
References to the Companys prospectus (the Prospectus) and form of preliminary prospectus
supplement (the Prospectus Supplement) are to the prospectus and form of preliminary prospectus
supplement included in pre-effective amendment No. 1 to the Companys registration statement on
Form N-2 that has been filed with the SEC on the date hereof.
Prospectus and Form of Prospectus Supplement
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1. |
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We reference the disclosure stating that We are managed by Fifth Street
Management LLC, whose six principals collectively have over 50 years, and individually
have between four years and 14 years, of experience lending to and investing in small
and mid-sized companies. Please indicate the number of years of experience that the
principals have managing a business development company. |
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The Company has updated the disclosure accordingly. See the cover page and
pages 1, 2, 4, 55, 56 and 57 of the Prospectus and the cover page and page S-1 of
the Prospectus Supplement.
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Mr. Dominic Minore
June 4, 2010
Page 2
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We reference comment no. 4 of our verbal comments from June 1, 2010. Please
add to the plain English explanation of PIK a cross-reference to the risk factor
discussing PIK in both the Prospectus and Prospectus Supplement. |
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The Company has updated the disclosure accordingly. See page 1 of the
Prospectus and page S-1 of the Prospectus Supplement. |
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We reference comment no. 5 of our verbal comments from June 1, 2010. Please
add disclosure stating that as a result of the exemptive relief, the Company could have
more debt outstanding than assets to cover such debt. |
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The Company has updated the disclosure accordingly. See page 2 of the
Prospectus and page S-2 of the Prospectus Supplement. |
Prospectus
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Please delete the words we believe from the second sentence of the first
paragraph under the heading Risk Factors on page 14 of the Prospectus. |
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The Company has updated the disclosure accordingly. See page 14 of the
Prospectus. |
* * *
If you have any questions or additional comments concerning the foregoing, please contact the
undersigned at (202) 383-0176, or Harry S. Pangas at (202) 383-0805.
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Sincerely,
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/s/ Steven B. Boehm
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Steven B. Boehm |
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Enclosure
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cc:
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Mr. Leonard M. Tannenbaum/ Chief Executive Officer |
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Harry S. Pangas, Esq. |
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Anne W. Gray, Esq. |