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American Capital opens Hong Kong office
24/09/2008. Source: AltAssets. 
 American Capital has expanded the firm's operations in Asia with the establishment of the firm's first Asian office, in Hong Kong. The initial focus of the expansion will be to identify and support opportunities throughout Asia for its existing portfolio companies in the US and Europe and to build relationships with local institutional investors, according to the firm.
The Hong Kong office will be led by David Steinglass, a senior investment professional that joined American Capital in 1997. In his new role, he will be responsible for working closely with the company's investment teams worldwide and for capitalraising activities in Asia.
Malon Wilkus, chairman and CEO, American Capital, said, 'We are excited to continue building our global middle-market platform and to expand on our successful entry into Europe. David is the ideal person to lead this effort - both because of his long and successful track record at American Capital as an equity investor and because of his role in our capital raising activities.'
'This is an important step in improving and expanding our relationships with existing American Capital investors in Asia,' added Steinglass. 'We believe the deepening of our relationships in Asia will also help our portfolio companies. By building a presence in the region, we hope to serve as a catalyst for those companies to open new markets, source lower-cost inputs, undertake greenfield development or acquisitions, and potentially, grow through partnerships and mergers with companies based in Asian countries.'
American Capital has $20bn in capital under management. The firm manages investments in private equity, leveraged finance, real estate and structured products.
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