OUR PEOPLE

Mr. Arnone joined American Capital in September 2002 as a Vice President in the Operations Team and was promoted to Principal in 2004 and to Managing Director in 2007.  Mr. Arnone heads the American Capital Technology Group and is based in Boston, MA.  Mr. Arnone serves on the Board of Directors for Avalon Laboratories Holding Corp., Electro-Component Assembly Company, eLynx Holdings, Inc., Futurelogic, Inc., Narus, Inc. and Paradigm Precision Holdings, LLC.

Previously, Mr. Arnone was Entrepreneur-in-Residence at Charterhouse Group International, a private equity firm with $1 billion under management.  There, Mr. Arnone was responsible for conducting due diligence and managing portfolio companies.  His assignments included work in the machine tool, electronics, and medical device industries.

Prior to his tenure at Charterhouse Group, Mr. Arnone was President of Boston Digital Corporation, a machine tool builder with approximately $30 million in sales.  While there he authored the reference work High Performance Machining, an implementation guide for recent innovations in CNC machining.  His most recent work, America's Trading Partners: the Good, the Bad, and the Ugly, was published in November 2004.

Mr. Arnone holds graduate degrees in management and engineering from the Massachusetts Institute of Technology and an undergraduate degree in mechanical engineering from MIT as well.

Mr. Burge joined American Capital's Investment Committee in 2007 after serving as Partner from 1998 until 2007 at Norwest Equity Partners, a private equity fund affiliated with Wells Fargo & Co. with over $2 Billion under management. There he was responsible for all aspects of investment activities and participated on numerous boards of directors. Prior to Norwest, in 1995, he co-founded Wells Fargo Equity Capital, which was then later merged with Norwest. Before Wells Fargo Equity, he was Managing General Partner at Wedbush Capital Partners where he managed a private equity fund and oversaw investment activities. Prior to Wedbush, Mr. Burge worked in commercial banking for Wells Fargo & Co. and Security Pacific Bank where he primarily worked on providing senior debt to leveraged buyout transactions. Mr. Burge holds a B.S. in Finance from San Diego State University and an M.B.A. from the University of Southern California.

Doug Cooper joined American Capital in 2005 as Managing Director of the Commercial Mortgage Asset Management Group. Mr. Cooper had been Managing Director at Allied Capital Corporation, where he was involved in all aspects of the company’s Commercial Mortgage-Backed Securities investment program including bond investment selection, real estate due diligence, structuring, securitization and surveillance. Mr. Cooper has spent his career in the commercial real estate mortgage business, including over a dozen years of direct CMBS due diligence and surveillance experience. He has been involved in the investment decisions of over 90 CMBS transactions totaling more than $200 billion in underlying loans.

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Managing Director Profile, Sponsor Finance Team

Bowen Diehl joined American Capital in October 2001 as a Vice President in the Dallas office, was promoted to Principal in 2004, and then promoted to Managing Director in January, 2007 where he is now responsible for the Sponsor Finance Group for the Western Offices for American Capital (Dallas and Chicago). While at American Capital, Mr. Diehl has completed transactions and managed investments in healthcare (including pharmaceutical/life sciences, healthcare/pharma services and behavioral health), business services, consumer finance and industrial manufacturing. Prior to joining American Capital, Mr. Diehl was a Vice President in Investment Banking at Merrill Lynch where he focused on mergers and acquisitions advisory assignments, as well as public debt and equity offerings for companies in the southwest United States. While at Merrill Lynch, Mr. Diehl gained experience working with companies in the exploration and production, oilfield services, natural gas pipeline, natural gas gathering and processing, homebuilding and semiconductor sectors. Prior to joining Merrill Lynch, Mr. Diehl was with Chase Securities, Inc. from 1995 to January 2000, most recently as a Vice President in the Global Oil and Gas Group. Mr. Diehl is currently Chairman of the Boards of Scientific Protein Laboratories, and Meadows of Wickenburg, serves as a member of the Boards of TestAmerica Holdings, Inc., and Forba (d/b/a Small Smiles), as well as serves as an observer to the Board of Tensar Holdings, Inc.

Mr. Diehl holds a Bachelor of Engineering with majors in Environmental/Geotechnical Engineering and Economics from Vanderbilt University. Mr. Diehl also holds a Masters of Business Administration from The University of Texas at Austin.

Nathalie Faure Beaulieu joined European Capital in 2005 as a Managing Director in the London office. She joins the firm from Mezzanine Management U.K., where she was a Managing Director and member of the Investment Committee for European Investments. Her deal responsibilities included origination, structuring, syndicating and management of investments, representing Mezzanine Management on the Boards of Directors of portfolio companies where appropriate. Ms. Faure Beaulieu was originally in charge of developing Mezzanine Management's French office, which opened in 1995.

Prior to joining Mezzanine Management in 1992, Ms. Faure Beaulieu worked at DG Investment Bank in London. She has deal experience in the U.K., France, Germany, Benelux, Italy, and the U.S. Since 1990 Ms. Faure Beaulieu has participated in 26 mezzanine transactions worth more than €315 million.

Pankaj Gupta joined American Capital in August 2006 as a Principal in our New York office. Prior to joining American Capital, Mr. Gupta spent six years at Audax Group, a Boston and New York-based private equity and mezzanine firm with $4 billion under management. As a Senior Vice President with Audax, Mr. Gupta was responsible for the origination, structuring, execution and monitoring of mezzanine investments. Prior to Audax, Mr. Gupta was an Associate in the Private Equity group of Whitney & Co. Prior to Whitney, he was an Analyst in the High Yield and Merchant Banking Group of CIBC World Markets. 

Mr. Gupta received a B.A. in Economics from Dartmouth College.  He currently serves as a Director on the boards of Roadrunner Dawes and SMG.  Mr. Gupta serves as an Observer to the boards of BondDesk Group, Cinelease, Inc., Compusearch Software Systems, Hopkins Manufacturing, Infiltrator Systems and Nivel Parts and Manufacturing.

Mr. Isaacson joined American Capital as a Principal in 2002 and was promoted to Managing Director in 2005. He is a rotating member of the firm’s Investment Committee and leads the Mid-Atlantic and New England buyout coverage practice.

Jon was previously with Thayer Capital Partners, a Washington D.C. based private equity firm where he worked as a Managing Director focusing on outsourced business services investments and was a member of the firm's Investment Committee. Mr. Isaacson joined Thayer from GTCR Golder Rauner, LLC, a Chicago-based private equity firm. Previous to GTCR, Mr. Isaacson was a Financial Analyst for Morgan Stanley & Co. and a Management Consultant for McKinsey & Co.

Jon has extensive experience and expertise investing in business process outsourcing (BPO), information technology services, installed base software, distribution and logistics, transaction processing, healthcare services, education and training and marketing services companies.

Previously, he has served on the Board of Directors for Vigilinx, Inc., Primary Multicraft, Inc., RoadRunner Freight Systems, Montana Silversmiths, Inc., Astrodyne Corporation, Renaissance Interactive and Western Wats, Inc. Currently, he serves on the Board of Directors for Affordable Care, Inc., Marina Medical Billing Service, Inc., Financial Asset Management Systems, Inc. and Contec, LLC. He is also an observer on the Board of Directors for Compusearch Software Systems, Inc. and RoadRunner Freight Systems and formerly was an observer at WIL Research Laboratories and Beacon Hospice.

Mr. Isaacson received his Master of Business Administration from Stanford University Graduate School of Business and a Bachelor of Arts in Political Science from The Johns Hopkins University.

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Managing Director Profile, Energy Group

Kevin W. Kuykendall joined American Capital in April 2003. In January 2005, Mr. Kuykendall was placed in charge of building an energy investing effort for American Capital. Mr. Kuykendall was promoted to Managing Director in 2006 and now leads a team of energy-focused investment professionals based in Dallas, Texas.

Prior to joining American Capital, Mr. Kuykendall was a Director in the Principal Investments Group of Enron Corp., where he spent seven years originating, executing, managing, and exiting a wide variety of energy-related investments, including leveraged buyouts, asset breakups, and early-stage direct equity investments in the exploration and production, oilfield services, coal, utility services, power, and power technology sectors.

Mr. Kuykendall currently serves as Chairman of the Board of Innova-Extel Acquisition Holdings, Inc., Fosbel Inc., Dynojet Research, Inc., ADF Holdings, Inc., LVI Holdings, Inc. as well as a board member of CMX Consulting, Inc., in addition to having served on 14 other Boards of Directors over portions of the past 15 years.

Kevin earned an M.B.A. with a Finance Concentration from the University of Texas at Austin and a B.B.A. in Finance, summa cum laude, from the University of Oklahoma.

Didier Lefèvre joined European Capital in October 2007 as Principal in the European Operations Group in the Paris office. Before joining European Capital, Didier has managed major international companies in the consumer goods sector for 15 years. His positions included Chairman of Kronenbourg, a brewery; Managing Director of Yoplait, a manufacturer and distributor of dairy products; Chairman of Saupiquet, a producer of canned fish; and Chairman of Peaudouce, a manufacturer of diapers.

Didier started his career at Danone in the Sales and Marketing Department.

Didier holds a degree from HEC Business School.

Jeff MacDowell joined American Capital in April 2001 as a Principal in the Dallas office and was promoted to Managing Director in 2005. Prior to joining American Capital, Mr. MacDowell was Vice President - Finance and Corporate Development of Dynamex Inc., a publicly-traded same-day transportation company with $250 million in revenues. From 1996 to 1998, Mr. MacDowell was with BACE Industries, LLC, a private equity firm specializing in industry consolidations. During his tenure at BACE, Mr. MacDowell was Vice President of RentX Industries, Inc., an equipment rental industry consolidator.

Prior to joining BACE, Mr. MacDowell was with Banque Paribas from 1991 to 1996 as a Vice President in the Merchant Banking Group where he focused on senior debt financings primarily for private equity sponsors. While at Paribas, Mr. MacDowell was involved in financing commitments that totaled in excess of $800 million. Prior to Paribas, Mr. MacDowell was with CS First Boston in the Dallas Investment Banking group where he gained corporate finance experience in initial public offerings, public equity and debt offerings, private debt placements, M&A, and corporate restructurings. While at First Boston, Mr. MacDowell was involved in financings that totaled in excess of $1.8 billion.

Mr. MacDowell graduated magna cum laude from Southern Methodist University with a B.S. in Mechanical Engineering.

Craig Moore joined American Capital in 2006 as a Managing Director in the Operations Department.  Craig's group works with selected American Capital portfolio companies to restructure their financial obligations and help them review strategic alternatives. Craig came to American Capital from Evercore Partners, where he was a Partner in their Restructuring Advisory Group for four years. At Evercore, he helped companies and creditors restructure their obligations both inside and outside bankruptcy. Before Evercore, Craig had been a Managing Director at JPMorgan Chase for 22 years in a variety of roles, including restructuring, loan product, real estate, and client management.  Prior to JPMorgan Chase, he was an International Economist at the Federal Reserve Bank of New York.

Craig has a PhD and MA in economics from Syracuse University, and a BA from Kalamazoo College.

Tom Nathanson joined American Capital in November 2005. Prior to joining American Capital, Tom was the President and COO at NutraMax Products Incorporated, a privately-held $125 Million nutraceutical and consumer products company. In this role he started a plant in China, distributed over 2,000 items and grew sales +30% and EBITDA +300% over two years. Before joining NutraMax, Tom was a Manufacturing and Technology executive with American Tack and Hardware, Hartz Mountain Corporation and First Brands Corporation. He started his career at First Brands as a Process Engineer. Tom is an instructor for Lean Management.

Tom received a BSEE from Stevens Institute of Technology. Tom lives in Ramsey, New Jersey.

Mark Opel joined American Capital in 2001 and currently serves as Senior Vice President of Private Fundraising. Mr. Opel manages American Capital’s worldwide marketing and strategic planning, directs the firm’s global market and economic research and oversees transaction origination from intermediaries, private equity sponsors and other sources of transactions. Mr. Opel has more than 20 years of financial and operating experience with middle market companies.

Prior to joining American Capital, he served as President of clean energy development company SunLight Power International and Chief Operating Officer at energy conservation services company SYCOM Corporation. In addition, he was a management consultant at Mercer Management consulting and, early in his career, was an investment banker at American Capital.

Mr. Opel is a graduate of Harvard College and Harvard Business School.

Tristan Parisot joined European Capital in March 2007 as Director and was promoted to Managing Director in October 2009. Prior to joining European Capital, Tristan worked for 10 years at 3i, where he started as an Associate for the Paris office, then was Investment Manager in the Nantes office and then was appointed Director in the Paris office. At 3i, Tristan closed many majority and minority buyout transactions, with a specific focus on the business services sector.

Tristan started his career in 1992 in Malaysia (Kuala Lumpur) as Asia manager for Agencinox, a small French firm specialized in medical equipment manufacturing. He then went to Paris to work as an auditor for KPMG Audit for three years.

Tristan graduated from the EM Lyon business school.

Tristan serves on the Board of Directors for Audika, Devglass, Hejenion (Soflog), and Marco Polo Foods. Tristan is also a Board observer for CEPL, Qioptiq, and Tiama.

Mr. Pelletier is the Group Head of the CLO/CDO Team and is responsible for managing all loan and CDO investments on behalf of American Capital.  Mr. Pelletier has 22 years of investment experience.  Before joining American Capital in 2005, Mr. Pelletier was a senior portfolio manager and analyst for Flagship Capital Management, Inc. and covered the commercial, industrial and technology sectors. Flagship Capital was part of the asset management arm of Bank of America focused on managing approximately $3 billion in leveraged loans across seven CLO portfolios. Mr. Pelletier was a founding member of Flagship Capital, which commenced operations during FY 2000.

Before joining Flagship Capital at its inception in 2000, Mr. Pelletier spent three years in leveraged finance with FleetBoston, where his primary responsibilities included sourcing and analyzing syndicated loans. He also participated in managing FleetBoston’s $2 billion CDO investment portfolio, which consisted of senior, mezzanine and equity tranches of approximately 40 different CDO managers. Before joining FleetBoston in 1997 as Vice President in Leveraged Finance, Mr. Pelletier spent three years as an Investment Analyst at GE Capital, two years as a senior analyst at BankBoston, and three years as Assistant Vice President at Heller Financial in the leveraged senior debt market, underwriting, structuring, and monitoring leveraged credits.

Mr. Pelletier holds BS and MBA degrees from Northeastern University, and is a Chartered Financial Analyst charterholder.

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Managing Director Profile, Sponsor Finance Team

Adam Spence joined American Capital in June 2001 in the New York office. Prior to joining American Capital, Mr. Spence was with Lend Lease Real Estate Investments making equity investments in real estate development projects located in non-core areas. Prior to Lend Lease, Mr. Spence was with Berkshire Capital Corporation, a boutique investment bank specializing in merger and acquisition transactions involving investment management and securities firms.

Mr. Spence received an A.B. in History cum laude from Harvard College.

David Steinglass joined American Capital in September 1997 and is one of the longest-tenured investment professionals in the firm. Mr. Steinglass joined the investment committee in 2004. Beginning in 2006, he has also shared responsibility for American Capital's private fundraising activities and in that capacity was instrumental in raising $1.6 billion for American Capital Equity I and II. He has recently returned to our Bethesda, Maryland-based buyout team after a three-year posting in Hong Kong, where he was and continues to be responsible for all American Capital activities in Asia, including capital raising, portfolio company expansion and investment operations.

Prior to joining American Capital, Mr. Steinglass was a judicial law clerk for the Honorable Leonard B. Sand in the Southern District of New York. He holds an A.B, magna cum laude, from Harvard College and a J.D, magna cum laude, from New York University Law School.

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Managing Director Profile, Special Situations Group

Myung Yi joined American Capital, Ltd. in February 2000 as an associate in the Bethesda, MD office, was promoted to Vice President in July, 2001, and became a Principal in the Operations Team in 2004. In 2005, he launched the Special Situations Group for American Capital and was promoted to Managing Director. Mr. Yi serves on the boards of American Capital portfolio companies The Algoma Group, Necco Realty Investments, LLC, New England Confectionary Company, Inc., Pan Am International Flight Academy, Paradigm Precision Holdings LLC, Resort Funding, LLC, and Warner Power.

He began his career as an audit associate in the Washington, D.C. office of Price Waterhouse focusing on financial institutions. After law school, he practiced tax law briefly at the firm of Caplin & Drysdale. He then joined the Bethesda, MD office of the Boston Consulting Group as a consultant. His focus was corporate development, valuation and strategic planning.

Mr. Yi received a J.D., cum laude, from the Georgetown University Law Center and a Bachelor of Science in Economics, magna cum laude, from the Wharton School of the University of Pennsylvania.

Principals

Bret Bero joined American Capital, Ltd. in May 2007, and is a Principal on the Operations Team. Bret has served as the Interim CEO of American Capital portfolio companies, and currently serves on the boards of Jones Stephens Corporation, The Meadows of Wickenburg, and Test America Holdings.

Prior to joining American Capital, Bret was the President, North America for Drake Beam Morin (DBM), a leading global provider of career transition services. Bret was recruited to lead the turnaround of DBM’s North American business that generated over $75 million in revenues from its 80 offices and 950 employees. Prior to DBM, Bret and a partner founded ECHO Industries, Inc. to acquire the assets of a metal forming manufacturing company in a leverage buy-out. Bret has over 17 years of increasing leadership roles in world class consulting firms. As a Partner at Accenture, he was the operations lead for the Human Performance service line, and developed the Organization Strategy service offering. Bret was a Vice President and led multi-discipline project teams in addressing Business Process Reengineering, business strategy, and organization change issues for clients in the Diversified Industries/Diversified Services industry group at Gemini Consulting. While he was with Price Waterhouse, Bret addressed client cost management and financial effectiveness issues. His clients have included firms such as Marriott, Highmark BlueCross/BlueShield of Western PA, Ferguson Enterprises, Bausch & Lomb, National Services Industries, Lanier, Oldsmobile, Tupperware, Harry & David, KeyCorp, New York Life, and International Thomson. Bret began his professional career as a manufacturing cost analyst with Digital Equipment Corporation.

Bret holds an MBA from the Tuck School of Business at Dartmouth College and an AB in Economics and Political Science from Middlebury College. He resides in Carlisle, Massachusetts.

Kyle Bradford joined American Capital in March 2002 and is a Principal in the Dallas Buyout Group. He is responsible for originating, executing and managing investments in middle-market companies across a variety of industry sectors, including healthcare services, life sciences, medical devices, and consumer products, among others. Mr. Bradford currently is Chairman of American Capital portfolio companies Value Plastics and ECA Medical, serves on the board of directors of The Meadows and Unwired Technology, and is a board observer of Scientific Protein Laboratories.

Prior to joining American Capital, Mr. Bradford worked in the Technology Investment Banking Division of Salomon Smith Barney in New York. At Salomon, Mr. Bradford specialized in equity and debt underwriting and merger and acquisition advisory assignments for companies in various technology sectors. Before Salomon, he worked in the Syndicated Finance Group of Banc of America Securities in New York.

Mr. Bradford received a Masters in Professional Accounting and a Bachelors of Business Administration from the University of Texas at Austin.

Ryan Brauns joined American Capital in February 2007 as a Vice President in the New York office. Prior to joining American Capital, Mr. Brauns was Vice President at GE Capital. While at GE Capital, Mr. Brauns focused on senior debt and second lien transactions, sourced through equity sponsors and the bank market, for leveraged middle-market companies in a variety of sectors. Prior to GE Capital, Ryan spent five years with Lazard.

Mr. Brauns holds an M.B.A. from Columbia Business School and holds a B.S., summa cum laude, from Salisbury University.

Mr. Cerullo has 18 years of experience in the bank loan market. Before joining American Capital in 2005, he was Senior Vice President and Credit Products Officer in Bank of America’s Commercial Bank, serving mid-sized commercial and industrial companies based in New Jersey. His prior experience also includes over nine years lending to companies in the media and entertainment industries, three years lending to middle market companies located in the Upstate New York market, and two years in commercial loan work-outs, all with predecessor banks to Bank of America.

Mr. Cerullo received his MBA from New York University’s Stern School of Business and BA/BS degrees from the University of Pennsylvania.

Giles Cheek joined European Capital in 2005 as a Director in the UK buyout group. Giles was formerly a Director at Duke Street Capital focusing on UK mid market buyouts where his responsibilities included origination, execution transformation and realization of private equity investments. Notable transactions included the creation of the Focus Wickes Group through the acquisitions of the Do It All, Great Mills and Wickes DIY chains, Madison Filtration and Megabowl in each case representing Duke Street Capital on the Board.

Prior to Duke Street Giles worked in the Corporate Finance practice of PriceWaterhouseCoopers where as a member of the Buyout Group he advised on a number of private equity transactions. His period in corporate finance also included an 18 month secondment to Nat West Markets Acquisition Finance where he completed a number of leveraged buyout transactions. Giles is a Chartered Accountant qualifying with PriceWaterhouseCoopers in 1993.

Dan joined the Sponsor Finance Group in January 2011 and is responsible for the origination, evaluation, structuring, execution and monitoring of investments by the firm. Prior to joining the group, he spent eight years in middle-market private equity with American Capital, Richardson Capital and Brookstone Partners. Dan began his career in investment banking at RBC Capital Markets in Toronto and SG Cowen in New York. Dan is a Chartered Financial Analyst (CFA) and received a Bachelors in Commerce from Queen's University. He serves on the Board of Directors of Anomatic Corporation.

Sean Eagle joined American Capital, Ltd. in April 2001 in the Bethesda, MD office. He began his career as an audit associate in the Washington, D.C. office of Deloitte & Touche, focusing on the financial services industry. He subsequently joined ePlus, a provider of Internet-based, business-to-business supply chain management solutions, as a business analyst. Upon graduating from business school, Mr. Eagle worked as an associate in the Financial Institutions Group of Goldman Sachs.

Mr. Eagle received an M.B.A. in finance from the Wharton School of the University of Pennsylvania, where he was a Palmer Scholar. He received a Bachelor of Science in Commerce, with distinction, from the McIntire School of the University of Virginia.

Todd Friant joined American Capital in July 2005 as part of Energy Team in the Dallas office. Prior to joining American Capital, Mr. Friant was a Director at Hunt Resources, where he spent two years assisting in the build-out of Hunt Consolidated's (holding company for the oil and real estate businesses of Ray Hunt), energy-focused private equity initiative. While at Hunt, Mr. Friant originated, evaluated and managed a broad range of investments across all energy sectors. Prior to Hunt, Mr. Friant worked at Simmons and Company International in Houston, Texas where he specialized in merger and acquisition advisory assignments principally for oil field service companies. Before this, Mr. Friant worked at Salomon Smith Barney in the Financial Entrepreneur's Investment Banking Division in New York. At Salomon, Mr. Friant specialized in equity and debt underwriting and merger and acquisition advisory assignments for private equity groups across all industries.

Mr. Friant's responsibilities include serving on the Boards of Directors of Explorer Pipeline Company, Dynojet Research, Inc., Fosbel Holdings Ltd., and LVI Holdings, LLC. Mr. Friant has previously served on the Boards of Consolidated Utility Services, Inc., BPWest, Inc., Pacific Handy Cutter, Inc., and Fleischmann’s Vinegar Company, Inc.

Todd earned a B.B.A. in Accounting and an M.S. in Finance, summa cum laude from Texas A&M University.

Wil Garland joined American Capital in January 2009. Prior to joining American Capital, Wil held the position of Group President of Cannon Solutions, a division of IMI, plc—one of Europe's largest engineering firms. Wil returned the division to acceptable rates of growth and profitability by winning new business, more efficient sourcing and targeted pricing. Wil was responsible for increasing operating profits 42.5% and company Cash Flow from $11.8MM to $18.4MM. Wil has held several CEO positions at firms such as American IronHorse Motorcycle, Inc., ADS CORP, a division of Axel Johnson, Inc., and DIAM International. Prior to 1999, Wil worked as President for the USA division of Pentland Group, a sporting goods, footwear and apparel business based in London, UK. Wil started his career in sales, marketing, and general management with Procter & Gamble in 1983 including assignments in the Arabian Peninsula, Scandinavia, and Turkey.

Wil received his bachelor's degree from University of Tennessee. He currently resides outside of Nashville, TN.

Matthew Gordon Clark joined European Capital in 2005 as a Director in the London office. He joins the firm from Mezzanine Management U.K., where he was a Director focusing on U.K. and European investments. Deal responsibilities included origination and structuring of new investments, and management and exit of portfolio companies. He has served as a non-executive director on the Boards of a number of mezzanine and equity portfolio companies.

Prior to joining Mezzanine Management in 2000, Matthew worked for the acquisition finance team at NM Rothschild & Sons, having previously completed a 6 year commission in the British Army.

Alan Gulachenski joined American Capital in March 2011. Prior to joining ACAS, Alan held the position of Vice President and General Manager of the Solid State Storage Division of SMART Modular Technologies, a $800MM manufacturer of memory and storage products for the telecommunication, server and storage industry. Alan was responsible for marketing, engineering, new product development, and business development for solid state storage devices. Prior to joining SMART, he worked as the Vice President and General manager of the commercial products division of White Electronic Designs Incorporated, a $100MM manufacturer of memory and storage products used in the communications, industrial and defense marketplace. Alan was responsible for all aspects of operations, engineering, sales and marketing for this division of White.

He currently holds three US Patents related to packaging and testing of memory devices and has a Bachelors Degree in Electrical and Computer Hardware Engineering from Northeastern University.

Etienne Haubold joined European Capital in May 2006 as a Vice-President in the Paris office and was promoted Principal in July 2007. Prior to joining European Capital, he spent two years at Société Générale in its Leveraged Finance team, where he arranged several transactions representing a total 1.4bn euros in senior and mezzanine debts. Etienne began his career at The Boston Consulting Group on assignments for corporate and private equity firms, with a focus on the consumer goods, chemicals, industrial goods, and utility segments.

Etienne received a Master of Science degree at the Ecole Nationale des Ponts et Chaussées. He also holds an MBA from HEC School of Management.

Etienne serves on the Board of Directors for BAI (Batisanté), Delsey Holding, Groupe Sud Robinetterie, Groupe Unipex, Metall Technologie Holding, and Parkeon.

Douglas Kelley joined American Capital’s Dallas office in 2004 and is a Principal in the Sponsor Finance Group. He is responsible for originating, executing, and managing debt and minority equity investments in partnership with other financial sponsors. Mr. Kelley has made debt and equity investments in private companies within a range of industries including food, healthcare, technology, and energy services. Mr. Kelley serves on the board of directors or as board observer of several American Capital investments, including Corrpro, Hospitality Mints, CreditCards.com and Direct Mail Holding. He previously served on the board of directors of BPWest.

Prior to joining American Capital, Mr. Kelley was an Associate at J.P. Morgan in its Los Angeles-based investment banking practice; was an Associate and founding member of the Los Angeles office of The Beacon Group, a New York-based merchant banking firm which managed over $2 billion of private equity capital and provided strategic advisory services to both middle-market and Fortune 500 clients; and was a Financial Analyst in the New York-based leveraged finance group of Credit Suisse First Boston.

Mr. Kelley holds M.B.A. and B.B.A. degrees from the McCombs School at The University of Texas at Austin.

Eugene Krichevsky joined American Capital in May 2003 as an Associate in the Bethesda office. Prior to joining American Capital, Mr. Krichevsky was an Associate at Willis Stein & Partners, a Chicago-based private equity firm with approximately $3 billion of capital under management. Mr. Krichevsky began his career in the Investment Banking Division at BT Alex. Brown, where he focused on consumer and business services clients.

Mr. Krichevsky received an MBA from the Wharton School of the University of Pennsylvania, where he was a Palmer Scholar. He received a BS in Commerce from the McIntire School of the University of Virginia.

Stéphane Legrand joined European Capital in July 2005 as a Vice-President and was promoted to Principal in July 2006. Prior to joining European Capital, he spent over six years at Close Brothers (Daiwa SMBC's affiliate in Europe), a middle-market M&A advisory firm. In the Paris office, Stéphane was responsible for origination, execution and realization of Mid-Cap transactions. He completed more than 15 transactions for corporates and private equity firms, especially in the consumer goods, services and manufacturing sectors.

Stéphane received a Master's degree in Finance from Sciences-Po. He also holds a Master's degree from the University of Paris-Dauphine.

Stéphane serves on the Board of Directors for Financière Newglass (Devglass), Lyparis (Go Voyages), IEE Holding 1 (International Electronics & Engineering), Spotless Group, Groupe Poult Holding (Biscuit Poult), and Financière OFIC (Onduline).

Stéphane previously served on the Board of Directors for ACG Holding (Alma Consulting Group), Fincorp (Empruntis) and Vextia (SeLoger.com).

Joseph Romic joined American Capital in April 2008 as a Principal in the Sponsor Finance Group. Prior to joining American Capital, Mr. Romic was a Director in the Goldman Sachs Specialty Lending Group, where he spent four years originating debt and equity investments in middle market companies. Prior to Goldman Sachs, Mr. Romic was a Senior Vice President in the Global Sponsor Finance Group of General Electric Commercial Finance. He also spent ten years with Heller Financial, a publicly traded diversified commercial finance company, before it was acquired by GE in 2001.

Mr. Romic earned a Masters of Management from the J.L. Kellogg Graduate School of Management at Northwestern University and a Bachelor of Science in Accounting from Illinois Wesleyan University. He is also a Certified Public Accountant.

Robert Sacks joined American Capital in July 2007 as a Principal in the firm’s Restructuring Group. In his present capacity, Mr. Sacks is responsible for the financial restructuring of existing American Capital investments. Prior to joining American Capital, Mr. Sacks was a Managing Director of JP Morgan Chase Bank, N.A. where he held numerous credit, restructuring and client management positions during his 30 year career with that firm. Most recently, Mr. Sacks was responsible for managing the credit product and associated credit risks of a $50 Billion portfolio of leveraged and Investment grade clients domiciled in the Industrial, Consumer, Healthcare and Retail Industries.

Mr. Sacks is a graduate of Bucknell University, where he earned a Bachelor of Science degree in Business Management.

James Shevlin joined American Capital in 2006 as Principal of the Commercial Mortgage Asset Management Group where he manages all aspects of the company's CMBS program including deal selection, due diligence, documentation, and structuring.

Mr. Shevlin was previously employed as a Director with CWCapital Investments Inc., where he was responsible for secondary market trades. From 1996 to 2005, Mr. Shevlin had been Principal at Allied Capital Corporation, involved in the company's CMBS investment program, originated and purchased loans, and was responsible for the post closing consents. Prior to joining Allied Capital, Mr. Shevlin served as an audit specialist with the Resolution Trust Corporation and Federal Deposit Insurance Corporation, and as a systems auditor with the Internal Revenue Service.

Dustin joined American Capital in May 2004 as an Associate in the New York office. Prior to joining American Capital, Dustin was an Associate with Mezzanine Management, a $530 million mezzanine and private equity fund specializing in growth financings for middle-market companies. Prior to Mezzanine Management, Dustin was an Analyst at Credit Suisse First Boston, where he focused on M&A transactions in the energy, consumer products and industrial sectors.

Dustin is a Phi Beta Kappa and magna cum laude graduate of Georgetown University with both B.S and M.S. degrees in International Relations, Economics and Business Diplomacy.

Adam Stern joined American Capital in May 2005 and is a Principal in the Dallas Buyout Group. He is responsible for originating, executing and managing investments in middle-market companies across a variety of sectors, including consumer products, business services, healthcare and industrial manufacturing. Mr. Stern currently serves on the board of directors of Pacific Handy Cutter and is a board observer of Rug Doctor and Imaging Business Machines.

Prior to joining American Capital, Mr. Stern was an Associate in Dallas at The Riverside Company, a New York-based private equity firm with approximately $3 billion under management. Before The Riverside Company, he worked at Park Avenue Equity Partners, a New York-based private equity firm with approximately $300 million under management and The Chart Group, a New York-based merchant banking firm. He began his career in the investment banking division of Lehman Brothers in the Natural Resources and Power Group.

Mr. Stern graduated with high honors from the University of Texas' McCombs School of Business, where he earned a BBA in Accounting and a MPA in Taxation. He has passed all four parts of the certified public accountancy exam.

Steve Stubitz joined American Capital, Ltd. in 2007. Steve currently serves on the board of directors of Affordable Care, Aptara, Inc., CIBT Holdings, Inc, Marina Medical Billing Service, triVIN, Inc., and WIL Research Laboratories.

Previously, Steve was the Vice President and General Manager for Hewlett Packard’s Business Process Outsourcing group, a $350M+ subsidiary of HP Outsourced Services. Steve led the development of this enterprise from start up through the rapid acquisition of Fortune 500 clients and organic growth to over 12,000 professionals in three years, building it into one of the top BPO businesses serving the Fortune 500. Steve was recognized in 2007 as one of the superstars of the Business Process Outsourcing industry by Finance and Accounting Outsourcing magazine. Steve is a veteran of the technology and outsourcing industry and is an expert in leveraging off-shore and near-shore models in India, China, Eastern Europe, Central and South America to deliver operational improvements for services companies. Steve has extensive experience building and leading I/T enabled services companies. Prior to HP, Steve was at Keane for six years and at IBM Global Services for ten years leading outsourcing businesses in I/T, Application Outsourcing and BPO.

Steve holds an MBA from the University of Chicago and a BS and MS in Industrial and Enterprise Systems Engineering from the University of Illinois-Champaign. Steve lives in Barrington, Illinois.

Jerry Tebbutt joined European Capital in 2005 as a Director in the London office. He joins the firm from Mezzanine Management U.K., where he was a Director focusing on UK and European investments. Deal responsibilities included origination, structuring, management and exit of portfolio investments. He has been a director, or alternate, in a number of mezzanine and equity portfolio companies.

Prior to joining Mezzanine Management in 1998 Jerry worked for Deloitte & Touche Corporate Finance and undertook a secondment to NatWest Markets leverage finance. Jerry is a chartered accountant qualifying with Ernst & Young in 1994.

Jennifer Vaughn joined American Capital in November 2005. Prior to joining American Capital, Jennifer held the position as Vice President of Operations for Thermo King Americas, an Ingersoll-Rand company. Jennifer’s initial assignment for Ingersoll-Rand, a 12 billion dollar diversified industrial company, was Vice President of Supply Chain for the Climate Control Technologies group. In this assignment, she was responsible for leveraging a spend of 2 billion dollars within the 28 global operations of Climate Control. Additional responsibilities included restructuring the sourcing organization to include Centers of Excellence for major commodities and establishing a purchasing office in Asia Pacific. Before joining Ingersoll-Rand, Jennifer held the position of Global Purchasing Director for an automotive company, TRW Inc. She started her career in operations and supply chain at Briggs and Stratton Corporation, a Milwaukee based engine manufacturer.

Jennifer holds an MBA, and a B.S. degree in Manufacturing Engineering from Murray State University. She and her family live in Lakeville, Minnesota.

Helen Yang joined American Capital in January 2006 as a Vice President in the New York office. Prior to joining American Capital, she was a Vice President at Lightyear Capital, a New York based private equity fund with $2 billion under management. At Lightyear, Helen evaluated and executed a variety of principal investments in the communications, energy, financial and business services sectors. Previously, she was with Bankers Trust Capital Partners focusing on middle-market investments. Helen began her career with Bear Stearns & Co. Inc., in the Health Care Investment Banking group.

Helen received a B.S. from Massachusetts Institute of Technology, where she was elected to Phi Beta Kappa. She received an M.B.A. with honors from The Wharton School of the University of Pennsylvania.

Vice Presidents

Jimmy Byun joined American Capital in 2007 and is currently a Vice President on the New York Buyouts team. Prior to joining American Capital, Mr. Byun was an Associate at Harbourvest Partners, a Boston-based private equity investment firm, focusing on direct investments in operating companies. Previously, Mr. Byun was an Investment Banking Analyst at Citigroup in the Financial Sponsors Group. Mr. Byun currently serves on the Board of Directors of eLynx, LTD and helps monitor American Capital’s investments in SMG Holdings, Inc and Mirion Technologies, Inc.

Mr. Byun received a Bachelor of Science in Economics, cum laude, and an M.B.A. from the Wharton School of the University of Pennsylvania.

Mr. Dratch joined American Capital in November 2005 as a Vice President.  Prior to joining American Capital, Mr. Dratch was employed at Merrill Lynch Capital underwriting leveraged middle market transactions that were primarily sourced through the firm's brokerage force. Prior to joining Merrill, he was employed at RBC Capital Markets' Corporate Credit group covering a portfolio of large-cap borrowers. Prior to joining RBC, Mr. Dratch underwrote and monitored leveraged transactions in the Media and Healthcare divisions of FleetBoston Financial (which was subsequently acquired by Bank of America).

Mr. Dratch holds a BA in Economics from Bates College and an MBA in Finance from Babson College. He is a CFA charterholder.

Justin DuFour joined American Capital in 2001 and is currently a Vice President in the Washington D.C. office. Prior to joining the Washington D.C. Buyouts team, Mr. DuFour worked directly for the firm’s Investment Committee, evaluating investment opportunities and managing the firm’s due diligence process. He began his tenure with American Capital as a Senior Manager for the Financial Analysis and Compliance Team (FACT). Mr. DuFour started his career with the Washington D.C. office of KPMG LLP. He received a Bachelor in Business Administration from the University of Notre Dame. Mr. DuFour currently serves on the Board of Directors for Avalon Laboratories, LLC and as an observer for Affordable Care, Inc., WRH Holdings, Inc, and CIBT Holdings, Inc.

Mr. Estela joined American Capital in May of 2004 as a Treasury Senior Analyst where he focused on the structuring and administration of structured debt. Mr. Estela became an Associate in the CDO/CLO group in January 2006, where he is focused on evaluating, executing and managing CDO investments. Mr. Estela was promoted to Vice President in January 2007. Prior to joining American Capital, Mr. Estela was a Credit Analyst for Citibank Colombia where his responsibilities included underwriting, and monitoring corporate credits across the Food, Beverage and Retail industries. More recently he was part of the OAS, where he evaluated and made recommendations on the budget assignments of the IACD.

Mr. Estela received his B.S. in Business Administration from the Pontificia Universidad Javeriana (Colombia) and his MBA in Finance from The George Washington University.

Andrew Flesch joined American Capital in April 2005 and is a Vice President in the Special Situations Group in the Bethesda office. Mr. Flesch serves on the boards of American Capital portfolio companies Pan Am International Flight Academy and Paradigm Precision Holdings LLC; and is involved with American Capital's investments in Republic Financial Corporation, Resort Funding, LLC and LCW Holdings, LLC.

Prior to joining American Capital, Mr. Flesch was an Associate with Wachovia Securities Corporate and Investment Bank in its Special Situations Workout Group where he worked on restructuring transactions across a broad range of industries. Prior to the Special Situations Group, Mr. Flesch was an Analyst in the Leveraged Finance Group at Wachovia. He started his career as an Analyst with SunTrust Bank.

Mr. Flesch holds a B.B.A. in Finance and Information Technology from Emory University's Goizuetta Business School. He is also a Chartered Financial Analyst and a member of the Washington Society of Investment Analysts.

Alex Grau joined American Capital in 2006. Mr. Grau is actively involved with American Capital’s investments Confluence Watersports, Warner Power, Formed Fiber Technologies and Qualitor. He currently serves on the board at Qualitor and previously served on the board of Montana Silversmiths.

Prior to joining American Capital, Mr. Grau worked for Monitor Group’s Strategic Pricing Group, Nextera Enterprises and Wells Fargo Investigative Services. He also held a Summer Associate position with Miller Buckfire & Co.

Mr. Grau earned an M.B.A. in Finance and Accounting from The Wharton School at the University of Pennsylvania, where he was a Joseph Wharton Fellow and a Citibank Leadership Fellow, and a B.S. in Foreign Service from The Walsh School at Georgetown University, where he played four years of Division I-AA football.

 Jim Gregory joined American Capital’s New York Buyouts team in 2005.  Prior to joining American Capital, Mr. Gregory was with Edgeview Partners, a boutique investment bank specializing in merger and acquisition transactions, and The Carlyle Group.  Mr. Gregory currently serves on the Board of Directors of American Driveline Systems, Inc., Specialty Brands Holdings, Inc., and Lifoam Holdings, Inc.

Mr. Gregory was Phi Beta Kappa and received a BS degree, magna cum laude, with majors in Mathematics and Economics from Davidson College.

Lynn joined American Capital in October 2008 as a Vice President. Prior to joining American Capital, Lynn was a Vice President in the Leveraged Finance Group at JPMorgan where she worked on bridge loans, senior loans and high yield bonds to finance leveraged buyout transactions for private equity clients. Prior to JPMorgan, Lynn was an Associate at Latitude Capital, a Hong Kong based middle market advisory firm. Lynn began her career at Lehman Brothers where she was an Analyst in its Telecom, Media and Technology Investment Banking group. Lynn holds an M.B.A from the Tuck School of Business at Dartmouth and a B.A. in Economics from the University of California at Berkeley.

Scott Kauffman rejoined American Capital in 2008 after completing business school.  Previously, Mr. Kauffman was an Associate at American Capital, where he was responsible for executing buyout and leveraged finance transactions.  Prior to joining American Capital, Mr. Kauffman was an Analyst in the Investment Banking group of BB&T Capital Markets.  At BB&T, Mr. Kauffman worked on mergers and acquisitions, equity and debt financings, and financial advisory for middle market companies, primarily in the transportation and logistics industry.  Mr. Kauffman currently serves on the Board of Directors for Core Financial Group and Sixnet LLC.

Mr. Kauffman received an MBA from the Stanford University Graduate School of Business and a BS in Business Administration, magna cum laude, from the University of Richmond.

Anuj Khanna joined American Capital’s Special Situations Group in 2007. He is involved actively with the firm’s investments in Halex Corporation, Unique Fabricating and NECCO Realty Investments. Mr. Khanna currently serves on the Board of Directors at Halex Corporation and Unique Fabricating and previously served on the Board at The JPDM Group.

Prior to joining American Capital, Mr. Khanna was an Associate in the Restructuring Group at Evercore Partners and an investment banking Analyst at UBS Los Angeles. He also held a Summer Associate position in the Corporate Restructuring Group of Skadden, Arps, Slate, Meagher & Flom.

Mr. Khanna received an MBA from Northwestern University’s Kellogg School of Management, a J.D. from the Northwestern University School of Law and a B.S. in Economics from The Wharton School at the University of Pennsylvania.

Evan Kurtz joined American Capital in May of 2006 as an Associate in the Real Estate Group and was promoted to Vice President in 2007.

Prior to joining American Capital, Mr. Kurtz was an Associate Director at KPMG within their Structured Finance group where he worked on numerous Commercial Mortgage Backed Securities (CMBS) and Asset Backed Securities (ABS) issuances. Mr. Kurtz began his career at the CoStar Group where he was a real estate Research Analyst.

Mr. Kurtz holds a BA in Economics from Williams College.

Jon Lindberg joined American Capital’s Sponsor Finance team in April 2007. Mr. Lindberg was previously employed at Merrill Lynch Capital in Corporate Finance. His experience also includes Ernst & Young in Transaction Services and Deloitte & Touche in Audit Services. Mr. Lindberg is a board observer for American Capital investments Phillips & Temro Industries, Tyden Group, and Wausau Financial Systems. He graduated in 1995 from the University of Notre Dame.

Lucia Marin joined American Capital’s New York Buyouts team in 2006.  Prior to joining American Capital, Ms. Marin worked for Maplewood Partners LP as an Associate in the Middle Market Private Equity Fund and as an Analyst in the New York investment banking division of Merrill Lynch & Co.  She also held a Summer Associate position with Goldman Sachs & Co.’s Principal Investment Area.  Ms. Marin earned an M.B.A. from Wharton and a B.A. degree in Economics from Princeton University.

Elizabeth Masciopinto joined American Capital in 2006 as a Vice President in the Investment Committee team.   Ms. Masciopinto has 17 years of investing experience including all aspects of evaluation, structuring, financial controllership and risk management of private equity, mezzanine finance and distressed assets.  Prior to joining American Capital she spent 14 years in roles with increasing responsibility throughout General Electric including Senior Vice President in the Commercial Lending and Commercial Real Estate Groups responsible for distressed asset acquisitions.  At GE Equity she held leadership positions with the private equity investing team focused on financial services, consumer and technology companies. 

Ms. Masciopinto holds an MBA from New York University and a BBA from the University of Notre Dame.  She studied abroad at Universidad de St. Luis in Madrid.

Chris McCormack joined American Capital in May of 2006 as an Associate in the Real Estate Group and was promoted to Vice President in 2007.

Prior to joining American Capital, Mr. McCormack worked as a Securitization Associate with JP Morgan with responsibilities for bringing Commercial Mortgage Backed Securities to market. Mr. McCormack obtained a BS in Business Administration from Towson University and an MBA from the University of Georgia’s Terry College of Business. Chris is a CFA charterholder.

Sean Reid joined American Capital in 2005 and is currently a Vice President in the Bethesda office.  Prior to joining the Bethesda Buyouts team, Mr. Reid was an Assistant General Counsel with American Capital’s in-house legal team.  Mr. Reid was previously an Associate in the Corporate & Securities practice group of Covington & Burling in Washington, D.C., where his practice focused on structured finance and secured lending transactions, mergers and acquisitions and corporate governance issues.

Mr. Reid received his J.D. from the University of Virginia School of Law, where he was a member of the Order of the Coif and an editor of the Virginia Law Review, and his B.B.A. in Accounting from The College of William and Mary.

John Rhoades joined American Capital in April 2006. Before joining American Capital, John worked as a Consulting Engineer for Sebesta Blomberg & Associates where he provided engineering and management consulting services to industrial, municipal, and institutional clients. John served as Vice President & General Manager at NutraMax, where he managed the Cough & Cold Division and major business expansion projects. John held various positions at Kraft Foods including Project Engineer, Regional Project Manager, Manufacturing Manager and Business Unit Manager from 1988 through 2002.

John holds a B.S. in Chemical Engineering with an area minor in Psychology from Rose-Hulman Institute of Technology. John is based in Thorntown, Indiana.

Will Rudat joined American Capital in February 2002 as an Analyst, was promoted to Associate in February 2003, and to Vice President in January 2007 (shortly after returning from a two-year leave to pursue his MBA). Will currently works in the Technology Group, pursuing early and mid stage venture investments, as well as late stage growth equity and leveraged buyout opportunities, in technology-oriented companies. Mr. Rudat is actively involved with portfolio companies Contour Semiconductor, FreeConference.com, and FutureLogic. He serves on the Board of Directors of FreeConference.com, and FutureLogic, and helped complete the sale of People Media to Match.com/IAC (Nasdaq: IACI).

Prior to joining the Technology Group, Will was part of American Capital's Operations Team. There he evaluated and executed investments and operational improvements in support of the restructuring, growth, and exit strategies of more than 15 distressed industrial and consumer products companies, comprising nearly $500MM of invested capital. Mr. Rudat helped complete the sale of 80% of these companies.

Prior to American Capital, Mr. Rudat held corporate development positions with startup telecommunications companies CityNet Telecommunications and NETtel Communications. He started his career as a consultant with Ernst & Young, working primarily in the Financial Services and Aerospace and Defense industries.

Mr. Rudat holds an MBA in Finance and Operations Management from the Wharton School of the University of Pennsylvania, and a BBA in Accounting from the University of Wisconsin, where he was a four-year Division I letterman in swimming. He is a Certified Public Accountant.

Fernando Ruiz joined American Capital in October 2005. Prior to joining American Capital, Fernando held management positions in sourcing for the GE Consumer and Industrial Division in Puerto Rico and GE Appliances in Mexico. Fernando was responsible for leading and developing sourcing strategies to deliver 10%+ productivity goals on a material spend base of $280 million. Moreover, he simplified the supply chain process by consolidating the vendor base and reducing order to delivery lead-time to 5 days. He started his professional career as production engineer and ISO 9000 auditor at Mabe, which is a Mexican joint venture entity with GE Appliances. Fernando is certified Green Belt in Six Sigma.

Fernando received his MBA from a joint program between Thunderbird, The Garvin School of International Management (Glendale, Arizona) and Instituto Tecnologico y de Estudios Superiores de Monterrey (Monterrey, NL. Mexico). He earned his B.S. Industrial Engineering from the Instituto Tecnologico de Queretaro (Queretaro, Qro, Mexico). Fernando lives in Plano, Texas.

Melissa March Smith joined American Capital’s Special Situations group in 2005.  Her prior experiences were with DaVita Inc. where she was a Senior Financial Analyst in Corporate Development and with J.P. Morgan Chase & Co., as an Analyst in the Global M&A group.  Ms. Smith is a Cum Laude graduate of Wharton with a B.S. degree in Economics.  Ms. Smith is actively involved with American Capital’s investments in The Algoma Group, Berry-Hill Galleries, Inc., and New England Confectionary Company, Inc.

Erin Soule joined American Capital in November 2001 and began working directly for the Investment Committee in October 2005. Ms. Soule focuses on transaction underwriting; evaluating investment opportunities and managing the due diligence process. She began her tenure at American Capital as a Senior Manager in the Financial Analysis & Compliance Team (FACT) where she lead a 12-person team on financial and accounting due diligence assignments, portfolio valuations and investment monitoring. Prior to joining American Capital, Ms. Soule was a Manager at a telecommunications company and a Senior Associate at PriceWaterhouseCoopers.

Ms. Soule has a Bachelor of Science in Accountancy from The College of New Jersey. She is a Certified Public Accountant.

Ivan Stoyanov joined European Capital in 2006 and is currently an Investment Director in the London Buyouts office. Previously, Ivan was Associate with McKinsey & Co and Analyst with the M&A team at UBS Warburg, both in London. He received his MBA with distinction from Harvard Business School in 2004 and his Bachelors from Oxford University (Keble College) where he specialized in Politics, Philosophy and Economics. Ivan currently serves on the board of directors of Miles 33 and Whitworths and served on the board at Avery Weigh-Tronix.

Ben joined the London buyout team in 2006. Prior to joining European Capital, he spent five years at Citigroup Investment Banking where he advised on a large number of M&A transactions in the energy sector as well as various capital market deals. Ben also worked as a secondee with Citigroup Private Equity and took part in their fund of funds, mezzanine and equity investments. Since joining European Capital, Ben has worked on the buyouts of Farrow & Ball and Hillarys Blinds and currently sits on their board as Non-Executive Director.

Mr. Toro joined American Capital in March of 2003 as a Treasury Senior Analyst where he focused on the execution, administration, and monitoring of secured and unsecured corporate debt. In August of 2006 Mr. Toro joined the ACAS CLO/CDO Team where he is focused on evaluating and executing principal CDO investments for the firm. Prior to ACAS, he was with Deloitte & Touche LLP, most recently as a member of the Global Capital Markets Group where he was focused on the implementation of Generally Accepted Accounting Principles for asset-backed and mortgage-backed securities transactions. Previously, he was a senior consultant in the Asset Securitization Group (ASG) of PricewaterhouseCoopers LLP where he focused on reviewing transactions for the Securitization Accounting and Modeling Solutions practice – a specialized securitization accounting, cash-flow modeling and valuation group within the ASG.

Mr. Toro graduated with a dual BS in Finance and Accounting from New York University’s Stern School of Business and is a Certified Public Accountant.

Derek Walton joined American Capital in December 2006. Prior to joining American Capital, Derek was Regional Sourcing Director for the Climate Control sector of Ingersoll-Rand, a $10B diversified industrial company. In this role, Derek had functional responsibility for all Climate Control locations within the U.S., Puerto Rico, Brazil and Mexico. Additionally, his responsibilities included the development of strategies and continuous improvement initiatives globally to drive cost performance and meet financial targets for the sector. Prior to that assignment, Derek held several positions of increasing responsibility during his 15 year tenure at Ingersoll-Rand including working for corporate Ingersoll-Rand on a team to re-engineer the global sourcing and supply chain function. He held key corporate positions on both the Castings and Metals/Fabrications Centers of Excellence driving savings in excess of $70M. He also sat on the Board of Directors for the Ingersoll-Rand Credit Union from 1998-2000.

Derek holds a Bachelor's Degree in Management from the University of Northern Iowa with dual emphasis in Business Administration & Operations Management. Derek holds the C.P.M. (Certified Purchasing Manager) designation from the Institute of Supply Management (I.S.M). He resides in Farmington, Minnesota.

Mr. Weiss joined ACAS in January 2007 as a Vice President. Prior to joining ACAS, Mr. Weiss was employed with Deutsche Asset Management as a research analyst covering large and middle market companies operating in diversified industries including media, cable, telecommunications, business services, and food products. Prior to joining Deutsche Asset Management, he was employed with Bank of America’s CLO group as a portfolio analyst covering diversified industries. Prior to joining Bank of America, Mr. Weiss underwrote and monitored leveraged transactions in the Media and Communications division of FleetBoston Financial (which was subsequently acquired by Bank of America)

Mr. Weiss holds a B.A. from Gettysburg College and an MBA in Finance from Hofstra University.

Marshall White joined American Capital in October 2004 and is a Vice President in the Dallas office.  He is responsible for evaluating and executing mezzanine investments and buyouts and monitoring certain portfolio companies.

Prior to joining American Capital, Mr. White spent over two years in the Industrials and Transportation Investment Banking group at JPMorgan in New York.  While at JPMorgan, Mr. White focused on merger and acquisitions for large-cap industrial companies.  He also worked with several Class I railroad companies on various debt offerings and acquisition financings.

Mr. White graduated with a Bachelor of Science and Administration from Georgetown University in May 2002.

Amie Wright joined American Capital in 2003 as a Senior Analyst in the Financial Analysis & Compliance Team (FACT) where she lead several teams of analysts on financial and accounting due diligence assignments, portfolio valuations and investment monitoring. Amie was promoted several times during her tenure, most recently in 2011 to Vice President of Internal Audit. In this capacity she is responsible for directing internal control reviews and special projects in the financial, compliance, operational and information systems areas of the Company. She reports activities and findings to senior management and the Audit Committee, while working closely with the external auditors to ensure reliable audit procedures are performed. Prior to joining American Capital, Amie spent two years in a Financial Reporting and Risk Management at PG&E Energy Trading, a division of a public company and three years in public accounting in the audit practice of Arthur Andersen.

Mrs. Wright received her Bachelor of Business Administration in Accounting, with a minor in Economics from The College of William and Mary and is a Certified Public Accountant in the state of Virginia.

Colin Wright joined European Capital in December 2005 as an Associate and was promoted to Investment Director in January 2007. Prior to joining European Capital, Colin was a Manager at KPMG Corporate Finance focusing on mid-market media transactions. Colin joined KPMG in 2000 and during his time there advised clients such as Guardian Media Group, Saga and various private equity houses on a range of transactions.

Colin also speaks German.

Yaniv Zief joined American Capital's Special Situations Group in 2006. Mr. Zief is actively involved with American Capital's investments in Paradigm Precision Holdings, LLC and Pan Am International Flight Academy

Prior to joining American Capital, Mr. Zief was a member of the investment team of Equity Group Investments, LLC, a Chicago-based private investment firm led by Samuel Zell, focusing on distressed debt and opportunistic private equity investments across various industries. Mr. Zief also held a Summer Associate Position with CarVal Investors, an investment firm specializing in distressed investments.

Mr. Zief earned an MBA degree from the Kellogg School of Management at Northwestern University, and holds an L.L.B. in Law, magna cum laude, and a B.A. in Business Administration (Finance) from the Interdisciplinary Center in Israel.

Accounting and Finance Department

Rich Konzmann joined American Capital in September 2002 as the Controller. In January 2006, Mr. Konzmann was promoted to Senior Vice President, Accounting and Reporting. Prior to joining American Capital, Mr. Konzmann was the Vice President of Corporate Accounting for Crestline Capital Corporation, a publicly-traded company with over $4 billion of revenues engaged in the business of owning, leasing and managing hotels and senior living communities from December 1998 to August 2002. Prior to joining Crestline Capital, Mr. Konzmann was with Host Marriott Corporation, a publicly-traded hotel real estate company with over $7 billion in assets. Mr. Konzmann served in various roles with Host Marriott in corporate accounting and asset management from November 1993 to December 1998. Prior to joining Host Marriott, Mr. Konzmann was with the accounting firm Deloitte.

Mr. Konzmann received his Bachelor of Science in Accounting from the Pennsylvania State University. He is a Certified Public Accountant and Certified Valuation Analyst.

Tom McHale joined American Capital in December 1998. Prior to joining American Capital, he served as Controller of Silver Diner, Inc., a publicly traded restaurant company. Tom began his career as an auditor with Price Waterhouse working with financial institutions and technology companies.

Mr. McHale received a Bachelor of Science in Business Administration in Accounting and Management from Georgetown University. He is a Certified Public Accountant.

Juan Carlos Morales Cortes joined ACAS in May 2004 and moved to London as Finance Director in September 2005.  He has more than 20 years of finance and accounting experience, most of which has been with companies operating in Latin America and Europe. Prior to joining ACAS, Mr. Morales Cortes held a number of positions with venture capital backed telecommunications companies.  His experience includes debt and equity capital raising, joint venture negotiations as well as financial and operational restructurings. Mr. Morales Cortes started his career at Mobil Oil Corporation, where he held a number of financial and accounting roles in the US Marketing and Refining division.  He oversees the finance function at European Capital and became Operations Director on 1st February 2010.

Mr. Morales Cortes holds a BA in Economics from the University of Western Ontario, Canada, a MBA in International Business from The American University and a MS in Finance from George Washington University, Washington DC.

Justin Cressall is Vice President of Equity Capital Markets of American Capital and is responsible for raising both public and private equity for American Capital.

Prior to joining American Capital, Mr. Cressall was most recently Senior Vice President and Treasurer of Platinum Underwriters, a publicly traded reinsurance company. Prior to Platinum, Mr. Cressall worked as a Director in the Transaction Services division of KPMG LLP where he focused on financial services.

Mr. Cressall received his Master of Business Administration from the University of Toronto and Bachelor of Arts in Economics from Tufts University. Mr. Cressall is a Chartered Accountant.

Jim Griffin joined American Capital, Ltd. in 2007 as Vice President of Private Capital Fundraising. Jim possesses thirteen years of private equity fundraising experience and founded a private equity placement firm. Prior to joining American Capital, Jim was the Managing Director and Founder of The Sulgrave Group. He has also worked as Managing Director at Questor Management Company, Principal at Veritas Capital, Founding Partner of Alignment Capital Partners and Vice President at The Carlyle Group.

Jim holds a Master of Business Administration from the Babcock Graduate School of Business at Wake Forest University and a Bachelor of Arts in Economics from the College of William & Mary.

Mark Lindsey joined American Capital in June 2006 as Director, Financial Reporting. He was promoted to Vice President, Financial Reporting in 2007 and has since been promoted to Vice President and Controller in 2009. Prior to joining American Capital, Mr. Lindsey served as Senior Director, Financial Reporting for XM Satellite Radio, Inc. Mr. Lindsey also worked as an inspector for the Public Company Accounting Oversight Board (PCAOB). Prior to the PCAOB, Mr. Lindsey was a Senior Manager with PricewaterhouseCoopers where he primarily focused on SEC audits in a variety of industries and M&A transactions.

Mr. Lindsey received his Bachelor of Science in Business Administration in Accounting from the University of Colorado at Denver. He is a Certified Public Accountant.

Michael Sarner joined American Capital in October 2000 as a Financial Analyst. He was promoted to Treasury Manager in 2002 and has since been promoted to Director in 2004. Prior to joining American Capital, he served as Senior Analyst for Diveo Broadband Networks, Inc., a Washington, DC based communications and Internet Infrastructure provider. His primary duties included analysis of the Latin American markets and capital raises. Mr. Sarner also worked at Healthcare Financial Partners performing and managing due diligence and monitoring portfolio company performance. Michael began his career as an auditor with Keller Bruner & Company auditing and consulting financial institutions and government contractors

Mr. Sarner received his Master of Business Administration from George Washington University and his Bachelor of Science in Business Administration in Accounting from James Madison University. He is a Certified Public Accountant.

Pete Deoudes is Director of Equity Capital Markets of American Capital and is responsible for the institutional investor base of American Capital. Prior to joining American Capital, Pete was a Vice President at Capital One for the past 12 years in a variety of Finance positions, including two years as Director of Investor Relations. Prior to Capital One, Pete worked as an Auditor at Price Waterhouse in Washington, D.C.

Pete received his B.S. in Accounting from the University of Delaware in May 1990. He is a non-practicing certified public accountant and a member of the A.I.C.P.A.

David Malcarney joined American Capital in 2004 as a financial analyst focused on corporate forecasting and strategic planning. Mr. Malcarney was promoted to Vice President of Equity Capital Markets in 2011 and focuses on structuring and raising equity for private funds and new business initiatives, as well as providing investor support to existing managed funds. Prior to joining American Capital, Mr. Malcarney was a financial analyst in the corporate finance group of ZweigWhite & Associates, where he advised on mergers and acquisitions, management buyouts and valuations of middle market firms in the engineering and construction industries.

Mr. Malcarney is a graduate of Georgetown University with a Bachelor of Science in Finance.

Richard Smith joined European Capital in May 2006 as the Financial Controller of European Capital.  Before that Richard had spent 4 years at Barclays Capital in various financial roles having qualified as an ACA at Arthur Andersen in 1998.  He became Finance Director for European Capital on 1st February 2010.

Financial Analysis and Compliance Team (FACT)

Mr. Beam joined American Capital in October 2001 as Director of Financial Due Diligence, Valuations and Portfolio Monitoring (FACT Group) in the Bethesda office. He has more than 18 years of due diligence, finance and accounting experience. Prior to joining American Capital, Mr. Beam was the Chief Financial Officer of a venture-backed specialty finance company. Mr. Beam was also the co-founder and executive vice president of a due diligence subsidiary of the healthcare division of Heller Financial, Inc. (formerly Healthcare Financial Partners). While at Heller, he built a team of more than 30 Certified Public Accountants and other finance professionals to perform all accounting and financial due diligence engagements, both pre-loan and recurring engagements, on behalf of Heller's healthcare division. He has supervised, managed and participated in over 400 due diligence engagements throughout his career. Mr. Beam's other experience was partner and founder of a local consulting and accounting firm; he has also worked for several public accounting firms in both the audit and tax departments, including the Washington, DC branch of a former national accounting firm.

Mr. Beam holds a Bachelor of Science in Accounting from the University of Maryland and is a Certified Valuation Analyst and Certified Public Accountant.

Rob Carraway joined American Capital in May of 2005 as a Senior Manager and has since been promoted to Vice President. Prior to joining American Capital, Mr. Carraway spent a year at Public Company Oversight Board (PCAOB). Prior to joining the PCAOB, Mr. Carraway spent 12 years in public accounting with Ernst & Young and KPMG, including six years with the Transaction Services Group where he managed and participated in over 100 due diligence engagements and six years in audit where he primarily focused on SEC audits in a variety of industries.

Mr. Carraway received his Bachelor of Science in Accounting from Auburn University and is a Certified Public Accountant.

Julien Darsy joined European Capital in March 2006 as the Manager of FACT (Financial Analysis and Compliance Team) in charge of financial due diligence, valorization and portfolio monitoring at Paris office. Julien was previously with KPMG for six years, first in Germany and then in Paris in Transaction Services. At KPMG, Julien led both vendor and buy-side due diligence reviews and provided accounting assistance on several major cross-border deals in Europe and the US, including buyout of Editis by fund Wendel and sale of Sarah Lee Europe.

Julien graduated from Edhec Business School.

Rustey Emmet joined American Capital in January of 2002 as an Analyst. Mr. Emmet has been promoted throughout his career at American Capital from Analyst to Vice President. He currently manages deal team offices in New York, Chicago and Philadelphia and has over 15 staff members within his team. Prior to coming to American Capital, Mr. Emmet was a CFO for Talke Incorporated and an Auditor with Watkins, Meegan, Drury.

Mr. Emmet holds a Bachelor’s degree from the University of Delaware.

Thomas Evans joined American Capital in March of 2005 as a Senior Manager in the Bethesda office. Prior to joining American Capital, Mr. Evans worked at Deloitte & Touche in Pittsburgh, Pennsylvania since August of 1998.  Mr. Evans holds an MBA from the University of Rochester.

Mr. Meretta joined American Capital in February 2007 and leads the IT Due Diligence & Consulting team. Prior to joining American Capital, Mr. Meretta was the Vice President and CIO for a $1 billion distribution and retail business in New England. Previously, Mr. Meretta spent 11 years at Deloitte Consulting, where he led global IT strategy and performance improvement projects in automotive, industrial and consumer business. Mr. Meretta holds certifications from the Project Management Institute (PMP) and APICS, The Association for Operations Management (CPIM).

Mr. Meretta received a Bachelor of Business Administration from the University of Michigan's Ross School of Business.