American Capital, which in May this year posted a first quarter loss of $813 million (€518 million; £409 million) and the redundancy of 80 employees, has made several internal promotions in response to the “expanding scope and breadth” of its asset management and investing activities.
Stephen Burge, who has been part of American Capital’s investment committee since May 2007, will take responsibility for most aspects of the company’s North American buyouts and sponsor finance business in the newly created role of president, North American private finance.
Other changes include the elevation of Ira Wagner, American Capital’s executive vice-president and chief operating officer to president, European private finance. He will continue to head up European Capital Financial Services, the company’s wholly-owned affiliate that manages European Capital, American Capital’s London Stock Exchange-listed business.
Brian Graff and Darin Winn will become senior vice presidents and continue to manage the company’s North American buyout and sponsor finance investment teams.
Malon Wilkus, chairman and chief executive officer, will remain in position.
In June American Capital announced the appointment of Joseph Romic and Bradley Nii to lead the Chicago and West Coast sponsor finance practices, where they assumed responsibility for the firm's debt and minority equity investments in support of private equity sponsors.
In May European Capital lost its head of buyouts Simon Henderson, whose departure sparked a report in the UK newspaper Daily Telegraph suggesting it marked the firm’s withdrawal from buyouts in Europe. The story was dismissed by the firm.