OUR PEOPLE

Malon Wilkus is the founder, Chairman, and CEO of American Capital, Ltd. (Nasdaq: ACAS). American Capital has $15 billion in capital resources under management and, both directly and through its global asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Mr. Wilkus has also been the Chairman of European Capital Limited, a private equity and mezzanine fund, since its formation in 2005. American Capital and its affiliates invest from $5 million to $ 100 million per company in North America and €5 million to €25 million per company in Europe.

Mr. Wilkus is the Chairman and Chief Executive Officer of American Capital Agency Corp. (Nasdaq: AGNC), a real estate investment trust (REIT) formed in 2008.  American Capital Agency invests exclusively in agency securities for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity.

Mr. Wilkus is the Chairman of American Capital, LLC, the fund management portfolio company of American Capital, Ltd.

He has served on the board of over a dozen middle market companies in various industries.

John Erickson joined American Capital as Chief Financial Officer in January 1998 and was named President, Structured Products in 2008. Mr. Erickson serves on American Capital’s investment committee and he has more than 25 years of finance and accounting experience in private and public company settings.

Mr. Erickson is also the Chief Financial Officer of American Capital Agency Corp., a real estate investment trust (“REIT”) formed in 2008 and publicly traded on the NASDAQ (Ticker: “AGNC”).  American Capital Agency invests exclusively in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity.

Gordon O'Brien joined American Capital in October 1998 as a Principal, was promoted to Managing Director in 2001 and became a member of the Investment Committee in 2002. In July 2008 he was named to his current position. From 1995 to 1998, Mr. O'Brien was Vice President at Pennington Partners & Company, a private equity firm with $90 million under management. There, Mr. O'Brien was responsible for structuring private equity investments, conducting due diligence, negotiating debt agreements and managing portfolio companies.

Prior to his tenure at Pennington Partners, Mr. O'Brien worked at Golder, Thoma, Cressey, Rauner, Inc., a private equity firm with $700 million under management and before that at Chemical Bank in Chicago. Before joining Chemical, Mr. O'Brien was co-owner of a door manufacturing company in Australia. Mr. O'Brien has participated in various transactions in the funeral home, food service, institutional pharmacy, logistics and cable and wire industries.

Mr. O'Brien holds a graduate degree in business from the University of Chicago and an undergraduate degree from the University of Pennsylvania, Wharton School of Business.

Ira Wagner initially joined American Capital Ltd. in 1986 and rejoined in October 1997 as a Principal. In May 2001, Mr. Wagner was named Executive Vice President and Chief Operating Officer of American Capital and in August 2008 he became President, European Private Finance. In these roles, Mr. Wagner was instrumental in the growth of American Capital from 2001 and also led the development of American Capital’s European private finance platform beginning in 2004, being named President of European Capital Financial Services in 2005. In addition, Mr. Wagner led the development of American Capital’s Syndications Team in New York beginning in 2005, which is responsible for placing senior debt underwritten by American Capital, and managed the CLO platform, also in New York, also beginning in 2005.

Before Mr. Wagner rejoined American Capital in 1997 he was a Senior Vice President at MONY Capital Markets, a specialty investment banking firm in which he was responsible for arranging financing for numerous companies primarily in the food and natural resources industries.

Prior to earning his M.B.A. at the University of North Carolina at Chapel Hill in 1985, Mr. Wagner was the co-founder of a business which distributed imported auto parts in western New England from 1975 through 1982.

Samuel A. Flax joined American Capital in January, 2005, as its Executive Vice President and General Counsel. He also serves as the company's corporate Secretary and Chief Compliance Officer.

Prior to joining American Capital, Mr. Flax was a senior partner in the corporate and securities practice group of the Washington, D.C. law firm of Arnold & Porter LLP. At Arnold & Porter, Mr. Flax was American Capital's principal external counsel since before the company's 1997 initial public offering. As outside counsel, Mr. Flax represented American Capital in raising more than $4.5 billion in debt and equity capital, advised the company on corporate, securities and other legal matters and represented the company in many of its investment transactions. At Arnold & Porter, Mr. Flax also represented a variety of other clients in a broad range of corporate and transactional matters including mergers and acquisitions, restructurings of sovereign and other debt, real estate investments and bankruptcy matters.

Mr. Flax joined Arnold & Porter in 1985 and became a partner in 1990. He is a graduate of the Washington & Lee University School of Law, where he was an editor of the Law Review, and received his undergraduate degree in industrial engineering from Georgia Tech. Following graduation from law school, he was a law clerk for the Hon. H. Emory Widener, Jr., of the United States Court of Appeals for the Fourth Circuit.

Melissa L. Dulski joined American Capital in 2007 as Assistant General Counsel responsible for handling litigation and labor and employment matters. Prior to joining American Capital, Ms. Dulski was a Counsel in the Labor and Employment section of Akin Gump Strauss Hauer & Feld, LLP in Washington, DC, where her practice focused on complex employment litigation and advising clients on various employment-related matters. Ms. Dulski also is an Adjunct Professor at the George Washington University Law School, teaching courses in Legal Research and Writing and Introduction to Oral Advocacy.

Ms. Dulski received her J.D. with honors from The George Washington University Law School, where she served as managing editor of the Environmental Lawyer, and received her B.A., cum laude, in Philosophy from The Florida State University. Ms. Dulski is a member of the District of Columbia, Massachusetts, and New York Bars.

Cydonii Fairfax joined American Capital in 2003 as Vice President and Associate General Counsel. Prior to joining American Capital, Ms. Fairfax was a member of the Corporate & Securities and Private Equity practice groups of Arnold & Porter LLP in Washington, D.C., where her practice focused on structured finance and secured lending transactions, private equity and debt financings, and securities offerings. She also advised clients regarding corporate governance issues and federal securities law matters. Ms. Fairfax previously served as a judicial clerk to the Honorable Inez Smith Reid on the District of Columbia Court of Appeals and worked at JP Morgan & Co., Inc.

Ms. Fairfax is a graduate of Harvard Law School, where she was an Editor of the Harvard Negotiation Law Review, and a Phi Beta Kappa graduate of the University of Maryland at College Park with a Bachelor of Science, summa cum laude, in Finance.

Heather French joined American Capital in May 2004 as Vice President and Associate General Counsel, and was promoted to Deputy General Counsel in January 2008.  She is responsible for handling litigation, labor and employment and intellectual property matters at American Capital. Prior to joining American Capital, Ms. French was a Counsel in the Washington, D.C. and McLean, Virginia offices of Akin Gump Strauss Hauer & Feld LLP, where her practice focused on complex commercial and employment litigation, as well as labor and employment counseling on a myriad of issues. 

Ms. French received her B.A., with distinction, from the University of Wisconsin-Madison and her J.D. from the Georgetown University Law Center, where she served as an Editor of the Georgetown Journal of Legal Ethics and a member of the Georgetown Moot Court Team. Ms. French is a member of the District of Columbia and Virginia Bars.

Joel Gulick joined American Capital in 2005 as Assistant General Counsel responsible for executive compensation matters. Prior to joining American Capital, Mr. Gulick was an Associate in the Tax Group of Arnold & Porter LLP in Washington, D.C., where his practice focused primarily on transactional employee benefits matters. He also advised clients regarding certain tax-qualified plan matters.

Mr. Gulick received his J.D. with High Honors from the George Washington University School of Law, where he was a member of the Law Review and Order of the Coif. He received his B.A., cum laude, in History from Gettysburg College. Mr. Gulick is a member of the Maryland and District of Columbia Bars.

Danièle Jean-Pierre joined American Capital in 2006 as Assistant General Counsel. Prior to joining American Capital, Ms. Jean-Pierre practiced in the banking group of Latham & Watkins LLP in Washington, DC, New York, NY and Paris, France where her practice focused on the arrangement and syndication of secured credit facilities and general corporate matters.

Ms. Jean-Pierre received her J.D. from Harvard Law School where she was the recipient of the Reginald F. Lewis Scholarship. She received her M.A. in International Policy Studies from Stanford University and her B.A. in International Relations from Stanford University. Ms. Jean-Pierre is a member of the New York and District of Columbia Bars.

Joshua Lefkowitz joined American Capital in 2006 as Assistant General Counsel. Prior to joining American Capital, Mr. Lefkowitz was an associate in the Financial Restructuring practice group of Stroock & Stroock & Lavan LLP in New York City, where his practice focused on representing official and unofficial committees of creditors and secured lenders in Chapter 11 proceedings, workouts and restructurings. Mr. Lefkowitz also represented hedge funds and private equity firms who made investments in or acquired assets from troubled companies, both outside and within Chapter 11 proceedings.

Mr. Lefkowitz graduated from the Georgetown University Law Center, where he was an Editor of the Georgetown Law Journal. Mr. Lefkowitz received his Bachelor of Arts in History, from the University of Rochester.

Michael Messersmith joined American Capital in 2005. Prior to joining American Capital, Mr. Messersmith practiced in the corporate group of Kirkland & Ellis LLP in Washington, D.C. where his practice focused on private equity, mergers & acquisitions, acquisition finance, equity and debt offerings, fund formation and corporate governance. Prior to that, Mr. Messersmith was an associate in the corporate department of Cravath, Swaine & Moore in New York City where he practiced public and private mergers & acquisitions, acquisition finance, and corporate finance (equity and high-yield bond offerings).  Mr. Messersmith has taught at Harvard University and Georgetown Law.

Mr. Messersmith received his J.D., magna cum laude, from Georgetown University Law School where he was a member of the Order of the Coif and a Law Fellow. Prior to Georgetown he received his degree in comparative literature from Harvard University where he specialized in classical languages and Sanskrit. Mr. Messersmith is a member of the New York and District of Columbia Bars.

Angela Patterson joined American Capital in 2004 as Assistant General Counsel. Prior to joining American Capital, Ms. Patterson was an Associate in the Corporate & Securities practice group of Arnold & Porter LLP in Washington, D.C., where her practice focused on structured finance and secured lending transactions, mergers and acquisitions, federal securities laws and corporate governance issues.

Ms. Patterson received her J.D., cum laude, from the Georgetown University Law Center, where she was Lead Articles Editor of The Tax Lawyer, and her B.A., with honors in Economics from the University of Puget Sound. Ms. Patterson is a member of the California and District of Columbia Bars.

Jonathan Pisha joined American Capital in 2008 as Legal Counsel, Deal Origination. Prior to joining American Capital, Mr. Pisha was an associate with Hogan & Hartson LLP in Washington, D.C. where his practice focused on public and private mergers & acquisitions, joint ventures, and general corporate finance. Prior to Hogan & Hartson LLP, Mr. Pisha was an associate with Cahill Gordon & Reindel LLP in New York City where he practiced in the areas of mergers & acquisitions and leveraged finance (concentrating on syndicated lending and high-yield debt).

Mr. Pisha received his J.D. with honors from The George Washington University Law School, where he was a member of the George Washington International Law Review, and received his B.A. in Environmental Policy from The University of Colorado at Boulder. Mr. Pisha is a member of the District of Columbia and New York Bars.

Ken Pollack joined American Capital in 2004 as Vice President and Associate General Counsel. Prior to joining American Capital, Mr. Pollack was a member of the Corporate & Securities and Real Estate practice groups of Arnold & Porter LLP in Washington, D.C., and McLean, Virginia, where his practice focused on public and private mergers and acquisitions, buyouts, private equity and secured lending transactions in a variety of business sectors. He also advised clients regarding corporate governance issues and regulatory compliance matters.

Mr. Pollack graduated from Vanderbilt Law School, where he is a member of Order of the Coif, and where he served as Special Projects Editor of the Vanderbilt Law Review. Mr. Pollack received his Bachelor of Arts in International Relations, cum laude, from Tufts University.

Kasey Reisman joined American Capital in 2005 as Assistant General Counsel. Prior to joining American Capital, Ms. Reisman was an Associate in the Financial Services group of Dechert LLP in Washington, D.C., where her practice focused on counseling registered investment companies in regulatory and compliance matters and assisting with the formation and management of open- and closed-end funds.

Ms. Reisman received her J.D. from Vanderbilt University Law School and her Bachelor of Science in Foreign Service from Georgetown University. Ms. Reisman is a member of the Virginia and District of Columbia Bars.

Lauren Fitzgerald joined American Capital in September 2007 as Vice President, Human Resources and was promoted to Senior Vice President in November 2009.

Most recently, Lauren was the Senior Director of Human Resources for CoStar Group, Inc., a publicly traded commercial real estate information company, for nearly eight years. She led the overall HR strategy including talent management, employee rewards and employee relations matters, while overseeing its growth in both the US and abroad.

Prior to that role, Lauren was a Senior Manager of Human Resources for Pepsi-Cola Company's Mid-Atlantic region. She also was selected as Pepsi's National Project Manager for Affirmative Action Compliance and appointed Human Resources liaison to Job Corps, a vocational training program administered by the U.S. Department of Labor. She has also served as the head of Human Resources and other HR roles at Morton's Restaurant Group, where she created the infrastructure of the Human Resources Department amid nationwide expansion.

Lauren began her professional HR career at Encyclopaedia Britannica. She has Master of Business Administration and Bachelor of Science in Commerce degrees with concentrations in Human Resources from DePaul University in Chicago.

Frank Burdine joined American Capital's Human Resources department as a Vice President in January of 2007. Mr. Burdine leads all Human Resources activities for the company's COO and the United States buyout, sponsor finance, CDO/CLO, business development and syndication business units.

Prior to joining American Capital, Mr. Burdine was Executive Vice President – Human Resources and Executive Vice President – Chief Administrative Officer at GMAC Commercial Finance. In these two positions, he had global responsibility for human resources, marketing and communications, facilities and disaster recovery/business continuity. He also served as Vice President for Personnel and Student Services and Vice President for Institutional Advancement at Robert Morris University; Director of Human Resources and Administration – Michigan Practice and Regional Recruitment Coordinator at Deloitte & Touche; Director of Professional Employment Services at The Ohio State University and Director of the Gerstacker Professional Management Program and Dean of Students at Albion College.

Mr. Burdine holds a Bachelor's degree from Albion College and a Master's degree from Wayne State University.

Doug Lwin joined American Capital’s Human Resources team in October of 2006. He is responsible for global compensation, benefits and HR technology. Most recently prior to joining American Capital, Mr. Lwin was at Friedman, Billings, Ramsey (FBR) for several years in a similar role. Mr. Lwin also worked for FINRA (formally, NASD) and Nasdaq Stock Market for approximately 12 years. There, Mr. Lwin held senior Human Resources positions where he was responsible for compensation, HR information systems, and their expatriate program.

Over the years, Mr. Lwin has been involved with a number of national and local professional organizations. He was a two-term president of the Washington Area Compensation and Benefits Association (WACABA) and has served as the Vice President of Surveys. He was also on the Board of the Human Resources Association of the National Capital Area (HRA-NCA) where he directed the annual compensation survey and started a separate annual benefits survey in 2006.

Mr. Lwin holds a Bachelor of Science degree from the University of Maryland and has an MBA from Johns Hopkins University. He is a Certified Compensation Professional (CCP), a Certified Benefits Professional (CBP) and a Global Remuneration Professional (GRP).

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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 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.

Amie Wright joined American Capital in January of 2003 as an Analyst and has since been promoted several times to her current role of Vice President in the Financial Analysis and Compliance Team. Amie manages a team of analysts, whose primary responsibilities include monitoring and valuing the Sponsored Finance portfolio for the New York and Chicago offices. Prior to joining American Capital, Amie spent two years in a Financial Reporting and Risk Management as a Supervisory Analyst at PG&E Energy Trading, a division of a public company. Prior to her experience at PG&E, Amie spent 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.

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.

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.

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.

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.

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.

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.

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.

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.

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 CMX, CORE Financial Group, Resort Funding, and Test America.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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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.

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.

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.