Leonard Tannenbaum is the chairman and CEO of Fifth Street Asset Management, an investment firm he founded in 1998.
Tannenbaum is a serial entrepreneur and businessman who has founded five companies, including LMT Investments Pty Ltd, the aforementioned Fifth Street Asset Management, AFC Gamma, and Fifth Street Management, LLC. Additionally, he’s served at the helm of eight different companies.
In 1994, Tannenbaum joined the Merrill Lynch team and subsequently rose through the ranks to assistant vice president, leaving in 1997 to work at a small hedge fund. After marrying Elizabeth Toll in May of that same year, Tannenbaum convinced his new father-in-law to go into business with him. In 1998, the two founded Fifth Street Asset Management—Toll keeping 90 percent of the profits compared to Tannenbaum’s 10 percent.
Early on, Fifth Street made large profits, but over time Toll and Tannebaum’s investments began to sour. After some sizable losses, the fund stopped making investments in 2004. The next year, Tannebaum launched his second fund, Fifth Street Mezzanine Partners II which reached $157 million in value.
In 2007, he launched a third fund which he turned into a business development company (BDC), Fifth Street Finance Corp., and took public in the midst of the 2008 financial crisis. It was one of just a handful of financial firms to go public that year, but Tannebaum’s risk paid off. The company emerged flush with cash on the other side of the crisis and became one of the fastest-growing BDCs in the country.
During this time, however, Tannebaum’s relationship with the Tolls began to deteriorate, and he divorced Elizabeth in 2010. His former father-in-law then sued him, alleging that he did not pay Elizabeth her owed profits from the management of Fifth Street’s latest fund.
In 2017, Fifth Street was sold to Oaktree Asset Management. By 2020, Tannebaum was on to a new venture, founding Advanced Flower Capital (AFC), and in March 2021 he took mortgage REIT AFC Gamma public. The company is an industry-leading lender in the cannabis space secured by cash flows, licenses, and real estate.
Tannebaum has served on the boards of numerous companies, including Einstein Noah Restaurant Group, WesTower Communications, and Assisted Living Concepts.
He is also a supporter of Kids in Crisis, United Way, the American Red Cross, and the Robin Hood Foundation.
What is Leonard M. Tannenbaum's net worth?
The estimated net worth of Leonard M. Tannenbaum is at least $20.02 million as of December 16th, 2024. Mr. Tannenbaum owns 1,318,573 shares of Oaktree Specialty Lending stock worth more than $20,015,938 as of December 21st. This net worth approximation does not reflect any other assets that Mr. Tannenbaum may own. Learn More about Leonard M. Tannenbaum's net worth.
How do I contact Leonard M. Tannenbaum?
Has Leonard M. Tannenbaum been buying or selling shares of Oaktree Specialty Lending?
Leonard M. Tannenbaum has not been actively trading shares of Oaktree Specialty Lending during the last ninety days. Most recently, Leonard M. Tannenbaum sold 66,666 shares of the business's stock in a transaction on Wednesday, December 29th. The shares were sold at an average price of $22.56, for a transaction totalling $1,503,984.96. Learn More on Leonard M. Tannenbaum's trading history.
Are insiders buying or selling shares of Oaktree Specialty Lending?
In the last year, Oaktree Specialty Lending insiders bought shares 2 times. They purchased a total of 3,000 shares worth more than $56,150.00. The most recent insider tranaction occured on September, 20th when Director Phyllis R Caldwell bought 1,000 shares worth more than $16,010.00. Insiders at Oaktree Specialty Lending own 0.3% of the company.
Learn More about insider trades at Oaktree Specialty Lending. Information on this page was last updated on 9/20/2024.
