PRINT THIS PAGE American Capital Strategies opens second Boston office, expands sponsor finance group08/05/2008. Source: AltAssets. 
American Capital Strategies has opened a second office in the Boston area to expand its sponsor finance group's investment activities. The new office will be led by Tim Robinson, who the firm has appointed as a principal. In his new role, he will be joined by David Morris as vice president and Dan Hodges as associate. Robinson joins American Capital from BancBoston Capital, where he was a managing director, responsible for originating, managing and divesting a portfolio of private equity investments.
Prior to American Capital, Morris worked at Citizens Capital, where he was a managing director responsible for originating and managing mezzanine and equity investments.
Hodges joins from Wachovia Securities, where he was an analyst in the leveraged finance group, focusing on debt financings for companies in the healthcare, consumer, media and telecommunications sectors.
The sponsor finance group works in partnership with private equity sponsors to provide financing solutions including senior debt and unirate loans, stand alone second lien and subordinated debt investments and equity co-investments to support private equity-backed buy-outs, recapitalisations, add-on acquisitions and growth initiatives. The group also provides financing directly to mid-market public and private companies.
Malon Wilkus, chairman, CEO and president of American Capital, said, 'We believe that there are great opportunities for American Capital to expand our support of private equity firms in the current investment environment. The opening of the Boston office is part of the American Capital sponsor finance group's initiative to expand our coverage of the best private equity firms in the world.'
'The opening of the Boston office is part of a reorganisation of our Eastern region sponsor finance business, which includes expanding the sponsor finance group in our New York office and the closing of our Philadelphia office,' added Ira Wagner, American Capital executive vice president and COO. 'Similarly, we are reorganising our western region sponsor finance business by consolidating our San Francisco office into our Los Angeles and Palo Alto offices. As a result of the office closures and other selective adjustments, we are eliminating about 80 positions, which is far fewer than the number of positions we added in 2007. We will now have over 240 investment professionals and approximately 600 total employees.'
To date, American Capital's sponsor finance group has made more than 140 debt and minority equity investments worth approximately $7bn.
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