Leonard M. Tannenbaum: Difference between revisions
Content deleted Content added
Patapsco913 (talk | contribs) No edit summary |
Patapsco913 (talk | contribs) No edit summary |
||
| Line 31: | Line 31: | ||
==Biography== |
==Biography== |
||
Tannenbaum was born to a [[American Jews|Jewish]] family, the son of Adele Fuchsberg and Calvin M. Tannenbaum.<ref name=NYTElizabethToll>[http://www.nytimes.com/1997/05/25/style/elizabeth-toll-leonard-tannenbaum.html New York Times: "Elizabeth Toll, Leonard Tannenbaum"] May 25, 1997</ref><ref name=Greenwich>[http://www.greenwichtime.com/news/article/Political-heavy-hitters-assemble-at-financier-s-3553050.php Greenwich Time: "Political heavy hitters assemble at financier's mansion" by Neil Vigdor] May 11, 2012 |''The son of a Cuban exile who is also Jewish, Tannenbaum railed on the Sarbanes-Oxley Act of 2002''</ref> His father |
Tannenbaum was born to a [[American Jews|Jewish]] family, the son of Adele Fuchsberg and Calvin M. Tannenbaum.<ref name=NYTElizabethToll>[http://www.nytimes.com/1997/05/25/style/elizabeth-toll-leonard-tannenbaum.html New York Times: "Elizabeth Toll, Leonard Tannenbaum"] May 25, 1997</ref><ref name=Greenwich>[http://www.greenwichtime.com/news/article/Political-heavy-hitters-assemble-at-financier-s-3553050.php Greenwich Time: "Political heavy hitters assemble at financier's mansion" by Neil Vigdor] May 11, 2012 |''The son of a Cuban exile who is also Jewish, Tannenbaum railed on the Sarbanes-Oxley Act of 2002''</ref> His father and was a managing partner of Brecher, Fishman, Feit, Heller, Rubin & Tannenbaum, a law firm in New York; his mother was a district administrator for the Nassau County Board of Cooperative Educational Services<ref name=NYTElizabethToll /> and exile from Cuba.<ref>[http://www.themiddlemarket.com/maj/2011_49/welcome-wagon-small-business-leonard-tannenbaum-233790-1.html Mergers & Acquisitions: "Welcome Wagon for Small Businesses? - Excerpts from Mergers & Acquisitions' interview with Leonard Tannenbaum, founder of Fifth Street Finance Corp. and the founder of the Keeping America Competitive PAC" by MARY KATHLEEN FLYNN] September 24, 2012 |''"Though my mother, I'm a descendant of Cuba, and I really think Hispanics haven't had the right voice in government."''</ref><ref name=Greenwich />He graduated with a B.S. in economics and a M.A. in finance from the [[University of Pennsylvania]].<ref name=BloombergFifthStreet /> After school he worked as an equity analyst for [[Merrill Lynch]].<ref name=ABF>[http://www.abfjournal.com/articles/filling-the-gap-with-enthusiasm-a-conversation-with-leonard-tannenbaum-ceo-of-fifth-street-finance/ ABF Journal: "Filling the Gap … With Enthusiasm A Conversation With Leonard Tannenbaum, CEO of Fifth Street Finance" by Lisa M. Goetz] May/June 2012</ref> |
||
In 1998, he founded Fifth Street Finance, a finance company specializing in raising funds from private investors and investing in small- and mid-sized companies. He raised $30 million<ref name=ABF /> ($15 million from his father-in-law, [[Bruce E. Toll]])<ref name=PhillyMag>[http://www.phillymag.com/news/2011/12/14/bruce-toll-sues-former-son-in-law/ Philly Magazine: "Bruce Toll Says (Former) Son-In-Law Defrauded Him - A rich man’s bad cocktail: money and family" By Victor Fiorillo] December 14, 2011</ref> and established his first fund which made investments until 2004. In January 2005, he launched a second fund, Fifth Street Mezzanine Partners II which reached $157 million in value and included institutional investors such as DuPont, Sumitomo Bank and WP Global; the fund stopped investing in 2007. In 2007, he launched a third fund,<ref name=ABF /> which in 2008, after taking the advice of [[David Einhorn (hedge fund manager)|David Einhorn]], he converted into a business development company (BDC).<ref name=ABF /> This entity, named Fifth Street Finance Corp., went public in May 2008.<ref name=ABF /> Fifth Street’s customers are primarily private equity firms that invest in lower middle-market or middle-market companies (averaging $10 million in [[EBITDA]]). Investments average $35 million and never exceed $100 million.<ref name=ABF /> Effective September 2014, they received permission form the S.E.C. to increase the maximum investment across its platform to $250 million.<ref name=ABF>[http://www.abfjournal.com/dailynews/fifth-street-receives-co-investment-exemptive-order-from-sec/ ABJ Journal: "Fifth Street Receives Co-Investment Exemptive Order from SEC"by Staff]</ref> |
In 1998, he founded Fifth Street Finance, a finance company specializing in raising funds from private investors and investing in small- and mid-sized companies. He raised $30 million<ref name=ABF /> ($15 million from his father-in-law, [[Bruce E. Toll]])<ref name=PhillyMag>[http://www.phillymag.com/news/2011/12/14/bruce-toll-sues-former-son-in-law/ Philly Magazine: "Bruce Toll Says (Former) Son-In-Law Defrauded Him - A rich man’s bad cocktail: money and family" By Victor Fiorillo] December 14, 2011</ref> and established his first fund which made investments until 2004. In January 2005, he launched a second fund, Fifth Street Mezzanine Partners II which reached $157 million in value and included institutional investors such as DuPont, Sumitomo Bank and WP Global; the fund stopped investing in 2007. In 2007, he launched a third fund,<ref name=ABF /> which in 2008, after taking the advice of [[David Einhorn (hedge fund manager)|David Einhorn]], he converted into a business development company (BDC).<ref name=ABF /> This entity, named Fifth Street Finance Corp., went public in May 2008.<ref name=ABF /> Fifth Street’s customers are primarily private equity firms that invest in lower middle-market or middle-market companies (averaging $10 million in [[EBITDA]]). Investments average $35 million and never exceed $100 million.<ref name=ABF /> Effective September 2014, they received permission form the S.E.C. to increase the maximum investment across its platform to $250 million.<ref name=ABF>[http://www.abfjournal.com/dailynews/fifth-street-receives-co-investment-exemptive-order-from-sec/ ABJ Journal: "Fifth Street Receives Co-Investment Exemptive Order from SEC"by Staff]</ref> |
||
Revision as of 23:21, 27 October 2014
Leonard M. Tannenbaum | |
|---|---|
| Born | 1971 (age 52–53) |
| Nationality | United States |
| Education | B.S. and M.A. University of Pennsylvania |
| Occupation | investor |
| Known for | founder of Fifth Street Asset Management Inc |
| Spouse | Elizabeth Toll (divorced) |
| Parent(s) | Adele Fuchsberg Calvin M. Tannenbaum |
Leonard M. Tannenbaum is the founder and chief executive officer of Fifth Street Asset Management Inc.[1]
Biography
Tannenbaum was born to a Jewish family, the son of Adele Fuchsberg and Calvin M. Tannenbaum.[2][3] His father and was a managing partner of Brecher, Fishman, Feit, Heller, Rubin & Tannenbaum, a law firm in New York; his mother was a district administrator for the Nassau County Board of Cooperative Educational Services[2] and exile from Cuba.[4][3]He graduated with a B.S. in economics and a M.A. in finance from the University of Pennsylvania.[1] After school he worked as an equity analyst for Merrill Lynch.[5]
In 1998, he founded Fifth Street Finance, a finance company specializing in raising funds from private investors and investing in small- and mid-sized companies. He raised $30 million[5] ($15 million from his father-in-law, Bruce E. Toll)[6] and established his first fund which made investments until 2004. In January 2005, he launched a second fund, Fifth Street Mezzanine Partners II which reached $157 million in value and included institutional investors such as DuPont, Sumitomo Bank and WP Global; the fund stopped investing in 2007. In 2007, he launched a third fund,[5] which in 2008, after taking the advice of David Einhorn, he converted into a business development company (BDC).[5] This entity, named Fifth Street Finance Corp., went public in May 2008.[5] Fifth Street’s customers are primarily private equity firms that invest in lower middle-market or middle-market companies (averaging $10 million in EBITDA). Investments average $35 million and never exceed $100 million.[5] Effective September 2014, they received permission form the S.E.C. to increase the maximum investment across its platform to $250 million.[5]
Tannenbaum is a supporter of the The Robin Hood Foundation, Kids in Crisis, United Way and the American Red Cross.[7]
Personal life
In 1997, Tannenbaum married Elizabeth Toll, daughter of housing developer Bruce E. Toll, in a Jewish ceremony at the Ritz Carlton in Manhattan.[2] They divorced in October 2010.[6]
References
- ^ a b Bloomberg: "Fifth Street Founder Set to Become One of World's Youngest Billionaires on IPO" By Caleb Melby and Leslie Picker October 10, 2014
- ^ a b c New York Times: "Elizabeth Toll, Leonard Tannenbaum" May 25, 1997
- ^ a b Greenwich Time: "Political heavy hitters assemble at financier's mansion" by Neil Vigdor May 11, 2012 |The son of a Cuban exile who is also Jewish, Tannenbaum railed on the Sarbanes-Oxley Act of 2002
- ^ Mergers & Acquisitions: "Welcome Wagon for Small Businesses? - Excerpts from Mergers & Acquisitions' interview with Leonard Tannenbaum, founder of Fifth Street Finance Corp. and the founder of the Keeping America Competitive PAC" by MARY KATHLEEN FLYNN September 24, 2012 |"Though my mother, I'm a descendant of Cuba, and I really think Hispanics haven't had the right voice in government."
- ^ a b c d e f g ABF Journal: "Filling the Gap … With Enthusiasm A Conversation With Leonard Tannenbaum, CEO of Fifth Street Finance" by Lisa M. Goetz May/June 2012 Cite error: The named reference "ABF" was defined multiple times with different content (see the help page).
- ^ a b Philly Magazine: "Bruce Toll Says (Former) Son-In-Law Defrauded Him - A rich man’s bad cocktail: money and family" By Victor Fiorillo December 14, 2011
- ^ MarketWatch: "Leonard M. Tannenbaum To Receive The 2013 M&A Advisor Leadership Award" December 10, 2013