Lender Layoffs: Fifth Street Capital
Update: The story was updated to report that one person from Fifth Street's LA office was laid off, not two. When we wrote about the storm of layoffs at mid-market lending houses last month, we had covered just about all of the main players. We forgot one, though. Fifth Street Capital laid off a “small handful” of its staff in late February, the firm confirmed. The spokesperson attributed the layoffs to a “lack of deals and the current environment,” adding that the firm had hired analysts related to its IPO last year. The headcount reduction was four, leaving the New York-based BDC with an 18-person staff, according to its website. The spokesperson maintained that the firm continues to do origination out of its LA office, despite rumblings that that office, which saw one of its three employees cut, would close.
