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 $156.85 million as of May 27th, 2021. Mr. Tannenbaum owns 21,195,331 shares of Oaktree Specialty Lending stock worth more than $156,845,449 as of December 5th. This net worth approximation does not reflect any other assets that Mr. Tannenbaum may own. Learn More.
How do I contact Leonard M. Tannenbaum?
The corporate mailing address for Mr. Tannenbaum and other Oaktree Specialty Lending executives is 333 SOUTH GRAND AVENUE 28TH FLOOR, LOS ANGELES CA, 90071. Oaktree Specialty Lending can also be reached via phone at (213) 830-6300 and via email at [email protected]
Has Leonard M. Tannenbaum been buying or selling shares of Oaktree Specialty Lending?
In the last ninety days, Leonard M. Tannenbaum has sold $1,241,406.00 of Oaktree Specialty Lending stock. Most recently, Leonard M. Tannenbaum sold 17,330 shares of the business's stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $7.45, for a transaction totalling $129,108.50.
Are insiders buying or selling shares of Oaktree Specialty Lending?
In the last year, insiders at the credit services provider sold shares 36 times. They sold a total of 7,155,890 shares worth more than $49,058,639.92. The most recent insider tranaction occured on November, 16th when Major Shareholder Leonard M Tannenbaum sold 17,330 shares worth more than $129,108.50. Insiders at Oaktree Specialty Lending own 0.2 % of the company.
Information on this page was last updated on 11/16/2021.