Fifth Street Senior Floating Rate Corp. and GF Funding 2014 Announce Intent to Form a Strategic Partnership

Fifth Street Senior Floating Rate Corp. and GF Funding 2014 Announce Intent to
Form a Strategic Partnership

WHITE PLAINS, NY, March 19, 2014 (GLOBE NEWSWIRE) -- Fifth Street Senior
Floating Rate Corp. (NASDAQ:FSFR) ("FSFR") today announced that it and GF
Funding 2014, an entity controlled by the Glick family, have signed a Letter
of Intent to form a strategic partnership to co-invest primarily in senior
secured loans of middle market companies. The Glick family office manages a
wide array of asset classes.Among its better known investments is a greater
than 25% stake in Songbird Estates (LSE:SBD), the holding company for Canary
Wharf Group Plc, a major business office district in London, England.The
Glick family was an initial investor in FSFR's IPO in July 2013 and currently
owns almost 2% of the outstanding shares.

The new venture is expected to be structured as a limited liability company
owned by FSFR and GF Funding 2014 with each party appointing two members to
the company's board.It is expected to be jointly capitalized with a structure
similar to that of other senior loan funds in the Business Development Company

"The Fifth Street platform has an over 10-year relationship with the Glick
family.We are pleased to have them as an investor in FSFR, and now as a
partner in this new venture, which should allow for accelerated growth and
significant earnings accretion for FSFR," stated its Chief Executive Officer,
Leonard M. Tannenbaum.

Sam Levinson, Managing Partner of the Glick family office, added "We have
invested with Len and the Fifth Street platform several times over our
long-standing relationship.Through our new venture with FSFR, we expect to
gain further access to their leading middle market loan origination and credit
risk management platform to increase our exposure in this attractive asset

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a specialty finance company that
provides financing solutions in the form of floating rate senior secured loans
to small and mid-sized companies, primarily in connection with investments by
private equity sponsors.The company's investment objective is to maximize its
portfolio's total return by generating current income from its debt
investments while seeking to preserve its capital.The company has elected to
be regulated as a business development company and is externally managed by
Fifth Street Management LLC. Named 2013 "Lender Firm of the Year" by The M&A
Advisor, Fifth Street Management is an SEC-registered investment adviser and
leading alternative asset manager with over $3 billion in assets under
management.With a track record of more than 15 years and offices across the
country, Fifth Street's nationally recognized platform has the ability to hold
loans up to $150 million, commit up to $250 million and structure and
syndicate transactions up to $500 million.FSFR's website can be found at

Forward-Looking Statements

This press release may contain certain forward-looking statements, including
statements with regard to the future performance of the company.Words such as
"believes," "expects," "estimates," "projects," "anticipates," and "future" or
similar expressions are intended to identify forward-looking statements.These
forward-looking statements are subject to the inherent uncertainties in
predicting future results and conditions.Certain factors could cause actual
results to differ materially from those projected in these forward-looking
statements, and these factors are identified from time to time in the
company's filings with the Securities and Exchange Commission.FSFR undertakes
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

CONTACT: Investor Contact:
         Dean Choksi,
         Executive Director of Finance & Head of Investor Relations
         (914) 286-6855
         Media Contact:
         Nick Rust
         Prosek Partners
         (212) 279-3115 ext. 252

Fifth Street Logo
Press spacebar to pause and continue. Press esc to stop.