OUR PEOPLE

Miles 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.  He is involved in the technology group's current investments in FreeConference.com, Inc. and Moxy Media, and serves on the Board of Directors of these companies and others, including Avalon Laboratories Holding Corp., CreditCards.com, Electro-Component Assembly Company, Egenera, Inc., eLynx Holdings, Inc., Futurelogic, Inc., Narus, Inc., Paradigm Precision Holdings, LLC, and Value Plastics, Inc.

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, Chicago, Los Angeles and San Francisco).  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. While at Chase, Mr. Diehl gained experience in mergers and acquisitions, leveraged buyouts, corporate restructurings, public debt offerings, as well as equity and mezzanine private placements. Mr. Diehl is currently Chairman of the Boards of Scientific Protein Laboratories, Meadows of Wickenburg and of ETG Holdings, Inc., serves as a member of the Boards of TestAmerica Holdings, Inc. and Forba (d/b/a Small Smiles), and serves as an observer on the Board of Creditcards.com.

Mr. Diehl holds a Bachelor of Engineering in Environmental and Geotechnical Engineering and a Bachelor of Arts in 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.

Gary Kain joined American Capital in January 2009 and currently heads the RMBS Team. Mr. Kain is also Senior Vice President and Chief Investment Officer of American Capital Agency Corp. (NASDAQ: AGNC), a portfolio company of American Capital. AGNC is a publicly-traded mortgage REIT, which invests exclusively in agency securities and is managed by an affiliate of American Capital.

Prior to joining American Capital, Mr. Kain served as Senior Vice President of Investments and Capital Markets of Federal Home Loan Mortgage Corporation ("Freddie Mac"). He also served as Senior Vice President of Mortgage Investments & Structuring of Freddie Mac from February 2005 to April 2008. Mr. Kain's group was responsible for managing all of Freddie Mac's mortgage investment activities for the company's $700 billion retained portfolio.

Previously, Mr. Kain was the head trader in Freddie Mac's Securities Sales & Trading Group where he was responsible for managing all trading decisions including REMIC structuring and underwriting, hedging all mortgage positions, income generation and risk management. Prior to his promotion to head trader in 1995, Mr. Kain served as a senior trader at Freddie Mac, responsible for managing the adjustable-rate mortgage and REMIC sectors. Mr. Kain joined Freddie Mac in 1988 as an analyst in the Financial Research Department.

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Managing Director Profile, Buyout Investment Team

Robert Klein joined American Capital in January 2002 as a Principal in the New York office and was promoted to Managing Director in 2004. He leads the New York private equity practice for the firm. Prior to joining American Capital, he was a Principal at American Securities Capital Partners. Before that, Mr. Klein spent eight years at American Industrial Partners, where he was Managing Director. He previously worked in the Mergers and Acquisitions groups of First Boston and Morgan Stanley, where he was an Associate and an Analyst, respectively, focusing on media and telecommunications projects. Mr. Klein was also a Summer Associate for Acadia Partners, L.P., the private equity affiliate of the Robert M. Bass Group. He is a past Professional Fellow of the New York University Center for Law and Business and is a member of the Committee on Asian and Ancient Art of the Art Institute of Chicago.

Mr. Klein was Phi Beta Kappa and received a BA degree summa cum laude in History of Art from Yale University. He also received a JD degree with Distinction from the Stanford University Law School.

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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., and Dynojet Research, Inc., as well as a board member of CMX Consulting, Inc. and United Food Group, LLC, in addition to having served on 13 other Boards of Directors over portions of the past fifteen 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.

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. At European Capital, Tristan will have the responsibility of promoting and generating buyouts and mezzanine investments in the French market. Prior to joining European Capital, Tristan had worked for 10 years for 3i where he started as an Associate for the Paris office, then was Investment Manager in the Nantes office and, then lastly, was promoted to Director in the Paris office. Throughout his career at 3i, Tristan closed majority and minority buyout transactions, many of which were in the business services sector.

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

Tristan holds a degree from EM Lyon's School of Business.

Tristan serves on the Board of Directors for Hejenion (Soflog), Holding Saint Augustin (Soflog), and Devglass.  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 18 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 became a member of 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. Now based in Hong Kong, he is responsible for all American Capital activities in Asia, including capital raising, portfolio company expansion and investment operations.

As an investment professional prior to 2001 and from 2001-2005 as the Managing Director responsible for the Bethesda-based investment team, Mr. Steinglass led 16 transactions. He was responsible for investments deploying $600 million in capital. Those transactions have generated a 3.5 times equity money multiple on realized investments.

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. Mr. Yi serves on the boards of American Capital portfolio companies Paradigm Precision Holdings LLC, The Algoma Group, The New Piper Aircraft, Pan Am International Flight Academy 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 an 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 an American Capital portfolio company, and currently serves on the boards of Resort Funding, Core Business Credit, and CMX.

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.

He holds an MBA from the Tuck School of Business at Dartmouth College and an AB in Economics and Political Science from Middlebury College. Bret 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, and consumer products, among others. Mr. Bradford currently serves on the board of directors of American Capital portfolio companies Future Food and The Meadows 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.

Bob Brooks came to American Capital from Handy and Harman, a $500MM subsidiary of WHX Corporation, in May 2004. While at H&H, Bob served as a Corporate Officer and Group Vice President for several of the Company’s divisions, including their Precious Metal Fabrication Group, Speciality Wire Group, and Continental Industries Business Group. He also served as VP of Strategy and Development for the Company.

Prior to WHX, Bob was a Corporate Officer and VP Manufacturing for General Signal Corporation, a $2.2B diversified industrial products company. He was responsible for operational due diligence and integration of the corporation's "bolt on" acquisition program, as well as for corporate-wide productivity and continuous improvement. Before the GSX corporate role, Bob served in GM, and SVP roles in multiple strategic business units where he was directly responsible for Operations, R&D, Global Supply Chain Operations (PRC, India, Eastern Europe and Mexico), and SBU and Group P&L performance. Prior to joining GSX, Bob worked for Union Carbide Corporation. He also served with the US Army Corp. of Engineers.

Bob received his BS degree from the University of Maine and lives in the small coastal community of Stockton Springs, Maine.

Bill Byers joined American Capital in January 2007. He has more than five years of CFO experience with private equity owned companies operating in a distressed environment. Prior to joining American Capital, Bill served as the CFO of Flexi Mat, a portfolio company of American Capital; LaDove, a hair and skin care manufacturer with $22M in sales worldwide; and The Cambridge Food Group, a specialty manufacturer of smoked fish products. Prior to that, Bill served in a variety of senior financial positions with Tropicana Products, Inc over a 12 year tenure. During his time with Tropicana Bill managed many assignments including redesigning the North American business planning processes, several reengineering projects and also played an integral part in the development of their International business.

Bill holds a B.S. in Accounting from Northern Illinois University and an M.S. in Accounting from Roosevelt University. He and his family currently reside in Sarasota, FL.

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.

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 Pacific Handy Cutter, Inc.  Mr. Friant has previously served on the Boards of Consolidated Utility Services, Inc., BPWest, 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.

Etienne Haubold joined European Capital in May of 2006 as a Vice President. Prior to joining European Capital, Mr. Haubold was a Vice President in the Leverage Finance team of Société Générale, one of the oldest banks in France. At Société Générale, Mr. Haubold was responsible for arranging senior and mezzanine transactions. Previously, Mr. Haubold worked at the Boston Consulting Group as a Consultant.

Mr. Haubold holds a Master of Science from École Nationale des Ponts et Chaussées and an MBA from HEC.

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 in the Paris office. Prior to joining European Capital, he spent over six years at Close Brothers (Harris Williams' affiliate in Europe), a middle-market M&A advisory firm, in the Paris office. As a Director at Close Brothers, he was responsible for origination, execution and realization of Mid-Cap transactions. He completed more than 15 assignments for corporates and private equity firms, especially in the consumer goods segment as well as in the light industry and manufacturing sector.

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

Stéphane serves on the Board of Directors for Eau Ecarlate, Poliris and Alma Consulting Group.

Mike Michienzi joined American Capital in December 2005. Prior to joining ACAS, Mike held the position of President Household Products Division of Applica Inc, a $600MM manufacturer of Black and Decker appliances, Belson professional personal care products and Littermaid pet products. Mike was responsible for sales, marketing, new product development, supply chain operations as well as their Mexican and Chinese based manufacturing plants. His primary responsibilities while in this role focused on the management of the consumer products business while restructuring the company from a manufacturing base to a third party sourcing operation. This restructuring included the sale of their manufacturing plants in China and Mexico. Mike was associated with the Black and Decker brand since 1987 and held various positions in both the appliance and power tool divisions. Prior to joining Black and Decker, he worked as a marketing manager for the AC Nielsen Division of Dunn and Bradstreet in market research, developing consultative packages for consumer products companies in North America. Mike started his career in sales and marketing with Kraft General Foods in 1978 where he worked for both the Maxwell House Coffee and Oscar Mayer divisions.

Mike received his bachelor's degree in Education from the State University College at Buffalo. He currently resides in Parkland, Florida.

Alex joined European Capital in 2006 as a Director in the UK Buyout Team. Alex was formerly a Director at CSFB Private Equity, which he joined in 1996. At CSFB Private Equity, Alex was responsible for the origination, execution, monitoring and realisation of UK and European buyouts.

Recent investments include the €2.3 billion acquisition of Dynamit Nobel and its merger with Rockwood Holdings, which has successfully exited by flotation on the NYSE and the €1.2 billion acquisition of Nycomed, which has also attained a successful exit through a sale to another private equity firm.

Alex has served on the Boards of numerous portfolio companies in the UK, Europe and the US ranging in size from start-ups to revenues of over $3 billion.

Prior to his time at CSFB Private Equity, Alex was with Arthur Andersen Corporate Finance which he joined in 1993 and where he advised on UK buyouts. Previously, he worked with Price Waterhouse in the corporate finance team which he joined in 1988 and where he qualified as aChartered Accountant in 1991.

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.

Bob Neighoff joined American Capital in 2005 as a Vice President of the Commercial Mortgage Asset Management Group and was promoted to Principal in 2007.

Mr. Neighoff had been a Vice President at RBS Greenwich Capital, where he was involved all aspects of the Commercial Mortgage Backed Securities trading desk, including trading of below investment grade securities, B-notes, and mezzanine debt, distribution of new issue CMBS transactions, and trading and hedging of CMBS in the secondary market. From 2000 to 20001, Bob was an equities trader at Deutsche Bank. From 1997 to 2001, Bob was with Rain Wine Real Estate Group, a commercial real estate due diligence firm. Bob managed a team of 4 underwriters that underwrote more than $900 million in commercial mortgage originations for Wall Street conduits.

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 as an Associate in the Dallas office.  Prior to joining American Capital, Mr. Stern worked in Dallas at The Riverside Company, a New York-based private equity firm focused on the middle-market. Before The Riverside Company, he worked at two private equity firms in New York, Park Avenue Equity Partners and The Chart Group, and at 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 BA 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 WIL Research Laboratories, Aptara, Inc., triVIN, Inc., Oceana Media Finance, LLC and CIBT Holdings, Inc.

Previously, Steve was the General Manager and Managing Director 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 primarily serving the financial services industry.

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.

John Weinhardt joined American Capital in November 2007. John has a strong background in the automotive and packaging industries and in-depth knowledge and experience driving operational improvement through implementation of the Toyota Production System. Before joining American Capital, John was the head of manufacturing operations at Rain Bird Corporation, a privately held leading provider of irrigation products and systems. In this capacity, he increased net income year-over-year 30% for irrigation products; led the Pump Station Division from a $500K loss to $350K profit in one year; and increased year-over-year Pump Station sales by 274%. Prior to Rain Bird, John was President and COO at Digitron Packaging, which provided packaging services to the automotive industry. During the course of his career, John has held senior management positions at AlliedSignal and Danaher Corporation, and has been the President and CEO of Prestolite Wire Corporation and Newcor, Inc.

John received his bachelor’s degree in Mechanical Engineering from the Rose-Hulman Institute of Technology and his MBA/MS from Purdue University's Krannert School of Management. John is fluent in French and proficient in Spanish. He lives in Tucson, Arizona.

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

Laura Albrecht was a 2004 Summer Intern Associate on the Chicago Office Buyouts staff before rejoining the Firm in August, 2005.  She was promoted in Buyouts to Senior Associate and later transferred to the Operations group.  Prior to joining American Capital, Laura worked for Adams Street Partners as a Principal.  Ms. Albrecht received her M.B.A. from Northwestern University Kellogg School of Management and her B.S. degree from Indiana University.

Ashish Burman joined European Capital in May 2007 as an Investment Director in the Mezzanine Team. He was formerly an Associate Director at Hawkpoint Partners, the corporate finance advisory boutique which he joined in 2002, predominantly originating and executing a wide variety of transactions within the retail and media sectors for both corporate as well as private equity clients. Notable transactions include the disposals of Hobbs, Jane Norman and Phase Eight, as well as the disposals of TV3 and Mergermarket.

Prior to Hawkpoint, Ash spent 5 years working as a corporate financier at UBS Warburg, predominantly in the UK Investment Banking Team, executing a wide variety of M&A and capital markets transactions for clients such as Logica, EMI, Cordiant and Saatchi & Saatchi.

Ash graduated in 1997 from Magdalen College, Oxford with a degree in Politics, Philosophy and Economics.

Jason joined American Capital in March of 2007. Previously, he was a Vice President in Merrill Lynch’s Global Structured Finance and Investments group in New York. Prior to Merrill Lynch, Jason held various finance and capital market positions at Eloan.com and Toyota Motor Credit Corporation and was an officer in the Army.

Jason holds a Bachelor of Science in Business from the University of Southern California and an M.B.A. from Indiana University with an emphasis in Finance. Jason is a CFA charterholder.

Mr. Dratch has 10 years of experience in the bank loan market and 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 Chartered Financial Analyst 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 as an observer on the Board of Directors for Financial Asset Management Systems, Inc., Contec, LLC, Affordable Care, Inc., PaR Systems, Inc., triVIN, Inc., and WRH Holdings, Inc.

Kacy Moutray Ellis joined American Capital in September of 2002 and is a Vice President in the Energy Team located in Dallas. She is responsible for executing, managing and exiting investments in companies across the energy sector. Prior to American Capital, Mrs. Ellis worked at Salomon Smith Barney in New York in the Mergers and Acquisitions group. While at Salomon, she completed several M&A transactions for technology, energy, transportation and logistics companies. Following Salomon, she worked at Frost Securities in Dallas in the Investment Banking Group. While at Frost, she worked on M&A, debt and equity transactions of middle-market energy and technology companies.

Mrs. Ellis received a B.A. in Economics and a Minor in Business Administration from the University of Texas at Austin.

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 Chevy Chase office. Mr. Flesch is actively involved with portfolio companies Pan Am International Flight Academy and Republic Financial Corporation; and contributed to the successful investments in Evans Analytical Group and Trigeant, Ltd.

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 that focused on maximizing the Bank’s recovery on distressed assets. 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, Ltd. in September 2006 as an Associate on the Operations Team and was promoted to Vice President in January 2008. His responsibilities include financial and operational analysis in support of the restructuring, growth, and exit strategies of various portfolio companies. He currently works with Piper Aircraft and Warner Power, among other American Capital portfolio companies, and recently helped to complete the exit and wind up of Logistics Express.

Prior to joining American Capital, Mr. Grau held positions at Miller Buckfire, a restructuring investment bank, Strategic Pricing Group (acquired by Monitor Group), a pricing and marketing strategy consultancy, Nextera Enterprises’ Technology Solutions Group, a technology strategy consultancy and Wells Fargo Investigative Services (acquired by Securitas AB), an information and security services company.

Mr. Grau holds an MBA 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 BS in Foreign Service from The Walsh School at Georgetown University. He played four years of Division I-AA football at Georgetown and then three years of semi-pro football in the N.E.F.L.

 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.

Eric Hynes joined American Capital in January 2006 as a Senior Manager in the FACT group and joined the Operations team in October 2008.  Mr. Hynes has over 20 years of experience in financial management and accounting positions in primarily high technology manufacturing operations. Prior to joining American Capital, Ltd, Mr. Hynes was the Vice President of Finance of Wolfe Engineering, a $100 million supplier of semiconductor capital equipment.  Before this position, Mr. Hynes has held financial positions at Plantronics, Silicon Valley Group, Adaptec and several venture capital backed technology start-ups.

Mr. Hynes holds a BS in Finance from Santa Clara University and an MBA in Finance from San Jose State University.

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.

Michael Jordan joined American Capital in July 2005 as an Associate in the Chicago office. Prior to joining American Capital, he was a Senior Associate in the Investment Banking division of Prudential Securities for four years, where he focused on capital raising for Telecom, Media and Entertainment companies. Prior to Prudential, Michael worked at Ernst & Young Kenneth Leventhal, as a real estate Consultant.

Mr. Jordan received his MBA from The University of Chicago, Graduate School of Business. He received his Bachelor of Business Administration in Finance from James Madison University.

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 as an observer on the Board of Directors for Financial Asset Management Systems, Inc. and WRH Holdings, Inc. 

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.

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.

Mitch Lee joined American Capital in June 2004 in the New York office and began working directly for the Investment Committee in January 2006. Mr. Lee focuses on assisting senior management with a diverse set of operational needs across the firm. He began his tenure at American Capital as an Associate sourcing and executing buyout and mezzanine transactions of middle market companies.

Prior to joining American Capital, Mr. Lee worked at The New York City Comptroller’s Bureau of Asset Management (NYCCBAM) where he monitored the performance of certain alternative assets and undertook due diligence with respect to potential investments in privately managed funds. Before NYCCBAM, Mr. Lee was a practicing attorney where he focused on general corporate and securities law matters.

Mr. Lee received an MBA from Columbia Business School, JD from Cornell Law School and BA from Cornell University.

Jon Lindberg joined American Capital’s Chicago Sponsor Finance team in 2007.  Prior to joining American Capital, Mr. Lindberg was employed during a twelve year period with Merrill Lynch Capital as an Assistant Vice President in Corporate Finance, a Manager at Ernst & Young LLP in their Transaction Advisory Services and a Senior Auditor with Deloitte & Touche LLP in their Assurance and Advisory Services Group.  Mr. Lindberg graduated with Honors from The University of Notre Dame and received a BBA degree in Accounting.  He is a Certified Public Accountant (CPA) and has completed the Level II Examination of the Chartered Financial Analyst (CFA) Program.

Melissa March joined American Capital’s Special Situations group in 2005.  Her prior experiences were with DaVita Inc. where she was a Senior Financial Analyst and with J.P. Morgan Chase & Co., as an Analyst in the Global Mergers & Acquisitions group.  Ms. March is a Cum Laude graduate of Wharton with her B.S. degree in Economics.  

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 a Business Development Analyst with Telefonic B2B/Adquira (a division of Spain’s Grupo Telefonica).  She also held summer positions with Goldman Sachs & Co. and Merrill Lynch & Co.  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 as Assistant General Counsel. Prior to joining American Capital, Mr. Reid was 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. Mr. Reid is a member of the Virginia and District of Columbia Bars.

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.

Lee Robinson joined American Capital, Ltd. in September 2007 and is a Vice President on the Operations Team, where his responsibilities include support of portfolio companies in the areas of financial planning & analysis, cash flow management and filling interim CFO positions. He has more than 25 years experience in senior financial management and accounting positions with a focus on acquisitions, post-closing integration, turnaround management, leveraged environments and financial reporting.

Prior to joining American Capital, Lee was the Chief Financial Officer of Creative Touch Interiors, a $900+ million subsidiary of The Home Depot, and more recently HD Supply that provided design center and turn-key installation services to homebuilders across the country. Before this position, Lee served in Chief Financial Officer and consulting roles with several businesses including EquiVision, Critical Care Concepts and Tatum Partners. Earlier, he was a Senior Audit Manager with Arthur Andersen.

Lee holds a MBA in Finance and Accounting from the University of Chicago Booth School of Business and a BA in Economics from Vanderbilt University. He is a Certified Public Accountant. Lee resides in Atlanta, Georgia.

Will Rudat joined American Capital in February 2002 and 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, FutureLogic, and Moxy Media. He serves on the Board of Directors of FreeConference.com, FutureLogic, and Moxy Media, and helped complete the sale of People Media to Match.com.

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 and growth strategies of more than 15 distressed portfolio 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 an auditor with Ernst & Young LLP, 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.

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 is a board observer at Avery Weigh-Tronix.

Benjamin joined European Capital in December 2006 as an Associate within the London Buyout office and was promoted to Investment Director in January 2008. He was formerly an Associate at Citigroup Investment Banking which he joined in 2001. During his 5 years of investment banking experience, Benjamin was part of the energy team and advised on several major M&A transactions in the sector. Prior to joining European Capital, Benjamin was on secondment with Citigroup Private Equity where he was involved in a number of mezzanine and equity co-investments.

Benjamin graduated in 2001 from EM Lyon with a Master of Science in Management.

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.

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.  Mr. White currently serves on the Board of Directors of Engineered Textile Group, Inc.

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

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.

Allison Young joined American Capital in 2005 as a Vice President in the Operations Team. Allison has more than 15 years of financial advisory experience with a focus in acquisitions, turnarounds, finance and accounting. Prior to joining American Capital, Allison was a Managing Director in FTI Consulting's Corporate Finance practice, where she focused on financial restructurings in the energy and industrial sector. Prior to FTI, Allison managed valuations, and buy-side and sell-side transactions for a boutique investment bank specializing in the retail and consumer products industries. She also worked in industry evaluating acquisition opportunities and managing the integration of newly acquired subsidiaries for an $800 million recycled paperboard and custom packaging company. She began her career as an auditor for KPMG.

Allison holds an MBA from Emory University and a BA in Business and Accounting from Wake Forest University. She is also a Certified Public Accountant.

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.

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 as a member of the Operations Team. Since joining, he has been involved in the monitoring and development of various portfolio companies. He has more than 15 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 was SVP & Treasurer of CityNet Telecommunications, Inc. and CFO of its European operations. Prior to CityNet, he was VP, Finance and Treasurer for Formus Communications, Inc., a provider of broadband fixed wireless services with operations in 11 countries across Europe, where he was responsible for financial planning and reporting, and raised over $500 million in equity and project finance. 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.

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.

Amanda Cuthbertson joined American Capital in 2004, as Investor Relations Manager. Prior to joining American Capital, Ms. Cuthbertson was a Director with the Corporate Executive Board in Washington, DC, a leading provider of best practices research and analysis focusing on corporate strategy, operations and general management issues. Previously, Ms. Cuthbertson worked in Investor Relations for a regional mall REIT in Arlington, VA. Ms. Cuthbertson began her career with Legg Mason in investment banking, where she focused on public and private offerings of equity and debt securities, as well as merger and acquisition advisory services for clients in the financial services and financial technology industries.

Ms. Cuthbertson is a graduate of the University of Maryland at College Park with a Bachelor of Science in Finance.

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 as a financial analyst in 2004. Mr. Malcarney was promoted to Director of Equity Capital Markets in 2007 and focuses on structuring and raising equity for new business initiatives. Prior to joining American Capital, Mr. Malcarney was a financial analyst with ZweigWhite & Associates in Washington, DC, a leading provider of management consulting and financial advisory services to middle market firms in the engineering and construction industries.

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

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 in the Bethesda office. Prior to joining American Capital, Mr. Carraway spent a year at Public Company Oversight Board. Prior to that, he was a Senior Manager in Ernst & Young's Transaction Group.

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 Pittsburg, Pennsylvania since November of 2002. Mr. Evans holds an MBA from the University of Rochester.

Sidney Glick joined American Capital in January 2002 and is currently a Vice President in the Washington, DC office.  He manages the Financial Accounting and Compliance Team overseeing the Dallas Financial Services and Structured Products deal teams.  Prior to coming to American Capital, Mr. Glick was a Senior Auditor with KPMG in their Health Care Assurance practice. 

Mr. Glick holds a Bachelor of Science in Accounting and Finance from the University of Maryland and is a Certified Public Accountant.

Mr. Meretta joined American Capital in February 2007 and leads the IT 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.