Publicly traded American Capital Strategies last month named Ira Wagner executive vice president and chief operating officer and elected Adam Blumenthal vice chairman. Blumenthal will relinquish his position as chief operating officer, but will remain on the investment and executive committees as well as represent the firm on the boards of portfolio companies.
Wagner served as vice president of American Capital form 1986 to 1988 and rejoined the firm in 1997 as a principal. Prior to rejoining American Capital in 1997, Wagner served as a senior vice president at MONY Capital Markets, where he was responsible for arranging financing for transactions. Blumenthal joined American Capital in 1989 as an associate and was named vice president in 1990. Blumenthal was named president and chief operating officer in 1999.
Malon Wilkus, chairman and chief executive officer at American Capital said, “We really had an opportunity to make a shift so that Adam could concentrate more on our portfolio and the investment committee, whereas Ira will be focused on developing our portfolio opportunities and working with our principals.”
Wilkus also said that the firm intends to add five more principals to expand its New York, Bethesda, Md., Chicago and Los Angeles offices. “We expect to have a good year and we believe this quarter is on track for what we expect to do for the year,” Wilkus said.