American Capital Director Appointed Chairman of Freddie Mac
18 September 2008 - 6:32PM
PR Newswire (US)
BETHESDA, Md., Sept. 18 /PRNewswire-FirstCall/ -- American Capital,
Ltd. (NASDAQ:ACAS) announced today that its Director John A.
Koskinen has been appointed to serve as the non-executive Chairman
of Freddie Mac, the mortgage finance firm recently placed into
conservatorship by the federal government. Mr. Koskinen intends to
remain on American Capital's Board, which he joined in 2007.
"Freddie Mac stands to benefit from John's outstanding experience
in complex management environments," said Malon Wilkus, Chairman
and CEO, American Capital. "I wish John great success in his new
role and am very appreciative that he will continue with American
Capital." Mr. Koskinen, former Chairman of the Board of Trustees of
Duke University, was also Chief Executive of The Palmieri Company,
which restructured large, troubled operating companies. During Mr.
Koskinen's 21 years with Palmieri, he helped reorganize the Penn
Central Transportation Co.; Levitt and Sons, Inc.; the Teamsters
Pension Fund and Mutual Benefit Life Insurance Co. Following
Palmieri, Mr. Koskinen served on the White House staff and in the
District of Columbia government. Mr. Koskinen recently stepped down
as President of the United States Soccer Foundation but continues
to serve as a Director of the AES Corporation, one of the world's
largest global power companies, since 2004. While Mr. Koskinen will
remain on the American Capital Board, he will not participate in
any American Capital investments involving Freddie Mac securities,
including its affiliate American Capital Agency Corp.
(NASDAQ:AGNC). ABOUT AMERICAN CAPITAL American Capital, with $20
billion in capital resources under management(1), is the only
private equity fund and the largest alternative asset management
company in the S&P 500. American Capital, both directly and
through its global asset management business, originates,
underwrites and manages investments in private equity, leveraged
finance, real estate and structured products. American Capital and
its affiliates invest from $5 million to $800 million per company
in North America and euro 5 million to euro 500 million per company
in Europe. American Capital was founded in 1986 and currently has
12 offices in the U.S. and Europe. As of August 31, 2008, American
Capital shareholders have enjoyed a total return of 292% since the
Company's IPO -- an annualized return of 13%, assuming reinvestment
of dividends. American Capital has paid a total of $2.5 billion in
dividends and paid or declared $29.25 dividends per share since
going public in August 1997 at $15 per share. Companies interested
in learning more about American Capital's flexible financing should
contact Mark Opel, Senior Vice President, Business Development, at
(800) 248-9340, or visit http://www.americancapital.com/ or
http://www.europeancapital.com/. Performance data quoted above
represents past performance of American Capital. Past performance
does not guarantee future results and the investment return and
principal value of an investment in American Capital will likely
fluctuate. Consequently, an investor's shares, when sold, may be
worth more or less than their original cost. Additionally, American
Capital's current performance may be lower or higher than the
performance data quoted above. This press release contains
forward-looking statements. The statements regarding expected
results of American Capital are subject to various factors and
uncertainties, including the uncertainties associated with the
timing of transaction closings, changes in interest rates,
availability of transactions, changes in regional, national or
international economic conditions, or changes in the conditions of
the industries in which American Capital has made investments. (1)
Capital resources under management is internally and externally
managed assets and available capital resources as of June 30, 2008.
DATASOURCE: American Capital, Ltd. CONTACT: Jennifer Burke,
Corporate Communications of American Capital, Ltd., +1-301-951-6122
Web site: http://www.americancapital.com/
http://www.europeancapital.com/
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