Gilford Securities Expects $150MM For FSC In New Originations In 2011 Q1

Gilford Securities reports today that it expects $150MM in new originations in 2011 Q1, “and with three weeks to go, Fifth Street Finance FSC has already closed $155MM, with $132MM funded at closing.” Gilford Securities said that last year FSC funded $137MM of deal closings in the last four weeks of the quarter. “We fully expect FSC to meet our objective of $150MM in funded originations for the quarter, and possibly substantially exceed that number,” Gilford Securities writes. “Management had very good ‘body language' related to their confidence in significant closings between now and the end of the quarter. If FSC can exceed $150MM for the quarter it will validate the decision to staff up well ahead of an expanding portfolio.” Fifth Street Finance currently trades at $11.73.