American Capital Strategies announced that it is opening an office in
American Capital Strategies Ltd. (Nasdaq: ACAS), a member of the S&P 500, the largest U.S. publicly traded private equity fund and one of the largest publicly traded alternative asset managers, announced today that it is expanding its technology investment activities on the East Coast with the opening of an office in the greater Boston area. The American Capital Technology Group's office is located in
Joining Mr. Arnone in
“Since the launch of the American Capital Technology Group in February 2006, we have been focused on building a team of experienced venture and private equity professionals,” said Virginia M. Turezyn, Managing Director, American Capital Technology Group. “Patrick is a strong addition to our team and with Miles forms the nucleus of senior leadership to further expand our East Coast investment team. Miles has a deep knowledge of the technology industry both through his work on American Capital's Operations Team and the Technology Group and I'm pleased that he will head our team in the
“I am delighted with the opening of the
Mr. Arnone joined American Capital in September 2002 as a Vice President in the Operations Team and was later promoted to Principal. In 2005, he joined the Technology Group as Principal and was promoted to Managing Director in 2007. Mr. Arnone is currently serving on the Board of Directors of the Technology Group's investments in Exstream Software LLC, Zencon Technologies, FreeConference.com, Reef Point Systems, Inc. and Tymphany Corporation.
“In less than two years, the Technology Group has established an outstanding reputation for its industry acumen, one-stop financing capabilities, industry network and flexibility,” said Mr. Gallagher. “I am excited to join the group as it expands investment activities and creates a presence on the East Coast with its new office. I am looking forward to this new opportunity and to working with my new colleagues.”
Mr. Gallagher joins American Capital from Morgan Stanley Venture Partners where he was Vice President and responsible for executing East Coast technology investments. In addition to participating in deal sourcing, due diligence, business and financial modeling, capital structure negotiations, Mr. Gallagher worked closely with senior management teams of portfolio companies, assisting with follow-on investments, mergers, corporate strategy, executive recruitment and liquidity options. He is currently a Board member for Constant Contact (Nasdaq: CTCT), and recently served on the boards of Core Security and Immobilien Scout.
With the addition of Mr. Gallagher, the American Capital Technology Group consists of 10 investment professionals in its two offices in
ABOUT THE AMERICAN CAPITAL TECHNOLOGY GROUP
The American Capital Technology Group invests in early, middle and late stage technology companies. With the flexibility to invest in equity and debt from $5 million to $800 million, the American Capital Technology Group can provide its capital base and domain expertise to build category-leading, technology companies.
As of September 30, 2007, American Capital and its affiliate American Capital Equity I LLC had $2.8 billion in technology investments in their portfolio. These companies generally are mature, high performing, cash flowing companies with excellent growth rates. They operate across many industry sectors and are driven by a broad range of technologies. The Technology Group extends American Capital's existing technology investment business by investing in earlier stage technology companies.
ABOUT AMERICAN CAPITAL
American Capital is the only alternative asset management company that is a member of the S&P 500. With $19 billion in capital resources under management, American Capital is the largest
As of October 31, 2007, American Capital shareholders have enjoyed a total return of 607% since the Company's IPO, an annualized return of 21%, assuming reinvestment of dividends. American Capital has paid a total of $1.9 billion in dividends and paid or declared $26.16 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 www.AmericanCapital.com or www.EuropeanCapital.com .