Kirk Rostron has joined Hovde Capital Advisors as executive vice president and COO. Based in Washington D.C., he will help in the firmís creation of a new private equity fund. Rostron comes from Merrill Lynch & Co., where he served as director and U.S. head of capital introduction.

Frank Do has been named senior vice president and managing director of American Capital Strategies, and also will lead the Bethesda, Md.-based firmís Los Angeles office. Do joined American Capital as a Los Angeles-based principal in January 2002, after having served as a general partner with Westar Capital.

David Bonderman, founding partner of Texas Pacific Group, has resigned from the board of directors at Seagate Technology Inc.

Ray Rothrock, managing general partner with Venrock Associates, has joined the board of directors of Venrock portfolio company PGP Corp.

Brett LíEsperance has joined Watermill Advisors and Watermill Ventures as a principal. He most recently served as a vice president with Investor Group Services. Separately, Watermill announced Douglas Potter has joined the company as a CEO-in-Residence. Potter was co-CEO and CFO of Durand Forms Inc.