American Capital Strategies, Ltd. (ACAS)

BUSINESS SUMMMARY
American Capital is the second largest U.S. publicly traded alternative asset manager with approximately $11 billion in assets under management (second to Fortress (NYSE: FIG)). American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations. American Capital and its affiliates invest from $5 million to $800 million per company in North America and €5 million to €400 million per company in Europe.

Since its August 1997 IPO, American Capital and the funds it manages have invested approximately $13 billion in over 250 portfolio companies. The portfolio includes services, transportation, construction, wholesale, retail, health care and industrial, consumer, chemical and food products. It have 200 investment professionals in ten offices in the United States and Europe.

Investment Value -Offer shareholders an opportunity to invest in privately held middle market companies through ownership of our stock. American Capital has paid or declared $23.33 per share in dividends since going public in 1997, and has provided a 22.3% annualized return and a 591.6% total return over that time, assuming dividends are reinvested.