American Capital Appoints David Ehrenfest Steinglass Senior Vice President for Corporate Development
18 1월 2006 - 2:12AM
PR Newswire (US)
BETHESDA, Md., Jan. 17 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today that David Ehrenfest
Steinglass has been appointed to the newly created post of Senior
Vice President for Corporate Development, effective January 1,
2006. Mr. Ehrenfest Steinglass has been a Managing Director and
co-leader of the Bethesda-based investment team of American Capital
since July 2002. In his new role, he will have project management
responsibility for the incubation and launch of geographic- and
sector-specific funds as part of American Capital's strategy to
become a publicly traded manager of funds of private assets. In
addition, Mr. Ehrenfest Steinglass will be responsible for
identifying and executing other strategic growth initiatives.
"David Steinglass has an excellent track record as one of our
Managing Directors and has demonstrated a consistent ability to
consummate highly complex transactions. We are excited that he has
agreed to deploy those skills in support of the development of our
asset management business," said Malon Wilkus, Chairman, President
and CEO. "We would hope that our growing and highly predictable
asset management income will contribute to diversification and
increases in our valuation." "I am excited to be part of this
latest phase of American Capital's growth," said Mr. Ehrenfest
Steinglass. "The asset management strategy will enable us to tap
new and specialized pools of capital while replicating our
investment approach in new assets classes and locations in the
global economy." Mr. Ehrenfest Steinglass joined American Capital
in 1997, immediately following its initial public offering. He
spent his first three years with the firm in New York City, and
then moved to Bethesda, where he built an investment team of 12
professionals managing nearly $750 million in capital. He earned
his bachelors degree, magna cum laude, from Harvard College and his
law degree, magna cum laude, from New York University Law School.
ABOUT AMERICAN CAPITAL American Capital is a publicly traded buyout
and mezzanine fund with capital resources of approximately $7
billion. American Capital invests in and sponsors management and
employee buyouts, invests in private equity buyouts, provides
capital directly to private and small public companies and through
its asset management business is a manager of debt and equity
investments in private companies and commercial loan obligations.
American Capital provides senior debt, mezzanine debt and equity to
fund growth, acquisitions, recapitalizations and securitizations.
As of December 31, 2005, American Capital shareholders have enjoyed
a total return of 412% since the Company's IPO -- an annualized
return of 22%, assuming reinvestment of dividends. American Capital
has paid a total of $868 million in dividends and paid or declared
$19.11 dividends per share since its August 1997 IPO at $15 per
share. Companies interested in learning more about American
Capital's flexible financing should contact Mark Opel, Senior Vice
President, Business Development, at (800) 248-9340, or visit
http://www.americancapital.com/. Performance data quoted above
represents past performance of American Capital. Past performance
does not guarantee future results and the investment return and
principal value of an investment in American Capital will likely
fluctuate. Consequently, an investor's shares, when sold, may be
worth more or less than their original cost. Additionally, American
Capital's current performance may be lower or higher than the
performance data quoted above. This press release contains
forward-looking statements. The statements regarding expected
results of American Capital Strategies are subject to various
factors and uncertainties, including the uncertainties associated
with the timing of transaction closings, changes in interest rates,
availability of transactions, changes in regional, national or
international economic conditions, or changes in the conditions of
the industries in which American Capital has made investments.
First Call Analyst: FCMN Contact:
Agnieszka.Opalka@AmericanCapital.com DATASOURCE: American Capital
Strategies Ltd. CONTACT: David Ehrenfest Steinglass, Senior Vice
President, Corporate Development, or Brian Maney, Director,
Corporate Communications, both of American Capital Strategies Ltd.,
+1-301-951-6122 Web site: http://www.americancapital.com/
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