American Capital has appointed David G. Richards to its board of directors. Richards is a former portfolio manager at Pine River Capital Management.
BETHESDA, Md., Nov. 19, 2015 /PRNewswire/ — American Capital, Ltd. (Nasdaq: ACAS) announced today that its Board of Directors has voted to increase the size of the Board to ten and has elected David G. Richards to the newly created position effective immediately. He will become a member of the Board’s Executive Committee and its Audit, Compliance and Valuation Committee.
“We are very pleased to welcome Dave Richards to the American Capital board and look forward to his perspectives,” said Malon Wilkus, American Capital Chairman and Chief Executive Officer. “His deep knowledge of investment and fund management companies and his extensive experience investing in the financial services sector sets the stage for him to make important contributions to the company.”
Until earlier this month, Mr. Richards, 43, was a Portfolio Manager with Pine River Capital Management, a global alternative asset management firm, where he focused on investments in the financial sector. Prior to joining Pine River in 2011, he was an analyst with Goldentree Asset Management. Earlier in his career, Mr. Richards held analyst positions with Citadel Investment Group, Raymond James & Associates and SunTrust Bank. Mr. Richards received an MBA from Emory University and a BS in Biology from Providence College.
“I am very pleased to have the opportunity to become a part of American Capital,” said Mr. Richards. “As a leading alternative asset manager with a diverse set of funds under management, American Capital has a bright future. I look forward to being a member of the Board as it works to promote the interests of the company’s shareholders and create shareholder value.”
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products. American Capital manages $23 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $80 billion of total assets under management (including levered assets). Through a wholly-owned affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC), American Capital Mortgage Investment Corp. (Nasdaq: MTGE) and American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with approximately $10 billion of total net book value. From its eight offices in the U.S., Europe and Asia, American Capital and its wholly-owned affiliate, European Capital, will consider investment opportunities from $10 million to $600 million. For further information, please refer to www.AmericanCapital.com.