BETHESDA, Md. – Responding to the growth of its portfolio companies, American Capital Strategies Ltd. promoted Executive Vice President Adam Blumenthal as the firm’s first chief operating officer.
In his new role, Mr. Blumenthal will direct a team of principals and associates to develop proposals that best fit the needs of the firm’s investment committee while it evaluates deals. He will continue to sit on the firm’s investment committee in addition to overseeing pre- and post-deal activities.
After American Capital makes an investment and a company enters its portfolio, the new COO will direct the advisers on the company’s board of directors, keeping an eye out for acquisition candidates and evaluating capital needs.
“Generally, I will work to makes sure we bring constructive thinking to the company,” Mr. Blumenthal said.
As a publicly traded company, American Capital has been an increasingly active investor since raising $150 million through its initial public offering in 1997. Currently, the firm has more than $275 million in capital under management and filed a shelf registration two weeks ago with the Securities and Exchange Commission that would cover an additional $250 million in equity capital.