American Capital Announces Senior Management Expansion
29 7월 2008 - 4:44AM
PR Newswire (US)
BETHESDA, Md., July 28 /PRNewswire-FirstCall/ -- American Capital,
Ltd. (NASDAQ:ACAS), the only private equity fund and alternative
asset manager in the S&P 500, announced today an expansion and
realignment of its senior management team, effective August 1.
Steven W. Burge will assume the newly established position of
President, North American Private Finance, with responsibility for
most aspects of the Company's North American buyouts and sponsor
finance businesses. Mr. Burge joined the Company in 2007 after an
extensive career at leading private equity firms. In addition, Ira
Wagner, American Capital's Executive Vice President and Chief
Operating Officer, will become President, European Private Finance
and continue as President of European Capital Financial Services
Limited, the Company's wholly-owned affiliate that manages European
Capital Limited (LSE: ECAS). Also, John Erickson, the Company's
Executive Vice President and Chief Financial Officer, will become
President, Structured Finance and Chief Financial Officer. Gordon
O'Brien, Senior Vice President and Managing Director, will become
President, Specialty Finance and Operations. Mr. Wagner, Mr.
Erickson and Mr. O'Brien will continue with responsibility for
several of the Company's investing and asset management areas. Mr.
O'Brien will add responsibility for the Company's planned Asian
investing activities. Malon Wilkus, the Company's Chairman and CEO,
will continue his existing responsibilities. With the designation
of the four new Presidents, he will no longer have the title of
President. Senior Vice Presidents and Regional Managing Directors
Brian Graff and Darin Winn will become Senior Vice Presidents and
Senior Managing Directors and continue to manage most of the
Company's North American buyout and sponsor finance investment
teams. There will be no significant changes in the titles or
responsibilities of the Company's other executive officers. "We are
very fortunate that an experienced private equity executive of
Steve Burge's caliber is joining our executive team," said Mr.
Wilkus. "Not only does he bring to the position a long investing
career at leading private equity firms, but for over a year he has
been a full time member of our investment committee, where he has
shown a strong commitment to our in-depth due diligence, rigorous
evaluation process and conservative style of investing across the
entire balance sheet." "In addition, as American Capital's asset
management and investing activities have expanded in scope and
breadth, we have looked to additional members of senior management
to assume responsibility for various investing verticals," said Mr.
Wilkus. "The establishment of four group Presidents with
responsibilities for various investing and asset management areas
recognizes the significant responsibilities that Ira Wagner, John
Erickson and Gordon O'Brien have been fulfilling for some years."
"I am very excited to be joining American Capital's executive
team," said Mr. Burge. "Although this is a challenging and
interesting time in our industry, I am confident that with American
Capital's premier buyout and sponsor finance professionals, we are
poised to continue our leading position. It will be a privilege to
expand my responsibilities and work more directly with our Private
Finance team." Mr. Burge, 52, joined American Capital in May 2007.
From 1998 through 2006, he was a Partner at Norwest Equity
Partners, where he managed the firm's Los Angeles office and was
responsible for all aspects of private equity investment
activities. Prior to that, he was a co-founder and Managing
Director of Wells Fargo Equity Capital, where he directed the
firm's private equity activities. Before joining Wells Fargo, he
was the Managing General Partner of Wedbush Capital Partners,
responsible for all private equity investment activity. Earlier in
his career, Mr. Burge was in the leverage finance groups of Wells
Fargo & Company and Security Pacific Bank. Mr. Wagner, 55,
joined American Capital as a Principal in 1997 and became Executive
Vice President and Chief Operating Officer in 2001. Mr. Erickson,
48, joined American Capital as its Chief Financial Officer in 1998.
He became Executive Vice President in 2001. Mr. O'Brien, 43, joined
American Capital as a Principal in 1998. He assumed his current
position in 2001. ABOUT AMERICAN CAPITAL American Capital, with $21
billion in capital resources under management(1), is the only
private equity fund and the largest alternative asset management
company in the S&P 500. American Capital, both directly and
through its global asset management business, manages private
equity, mezzanine, senior debt, commercial mortgage, residential
mortgage, collateralized debt obligations, energy, technology,
financial institution and special situation investments in early
stage and mature private and public companies in North America and
Europe. American Capital provides senior debt, mezzanine debt and
equity to fund growth, acquisitions, recapitalizations and
securitizations. American Capital and its affiliates invest from $5
million to $800 million per company in North America and euro 5
million to euro 500 million per company in Europe. As of June 30,
2008, American Capital shareholders have enjoyed a total return of
328% since the Company's IPO-an annualized return of 14%, assuming
reinvestment of dividends. American Capital has paid a total of
$2.5 billion in dividends and paid $28.20 dividends per share since
going public in August 1997 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/ or
http://www.europeancapital.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 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. (1)
Capital resources under management is an estimate of internally and
externally managed assets and available capital resources as of May
31, 2008 and does not include any fair value adjustments subsequent
to March 31, 2008. DATASOURCE: American Capital, Ltd. CONTACT:
Brian Maney, Director, Corporate Communications of American
Capital, Ltd., +1-301-951-6122 Web site:
http://www.americancapital.com/ http://www.europeancapital.com/
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