Great Elm Capital Corp. Announces Appointment of Credit Industry Veteran Erik A. Falk to Its Board of Directors
March 18 2021 - 8:30AM
Great Elm Capital Corp. (“we,” “us,” “our,” or “GECC,”) (NASDAQ:
GECC), a business development company, today announced that Erik A.
Falk has joined GECC’s Board of Directors (the “Board”). Mr. Falk
replaces John Stuart, who is leaving the Board to pursue other
interests. With the change, the Board remains at five members.
Mr. Falk is Head of Strategy at Magnetar, an
alternative asset manager with about $13 billion in AUM as of
January 2021. His primary focus is developing and implementing
strategic initiatives within the firm’s Alternative Credit and
Fixed Income business. Before joining Magnetar in early 2017, Mr.
Falk oversaw the private funds at Kohlberg Kravis Roberts & Co.
(“KKR”) as Global Head of Private Credit, and served on the firm’s
Private Credit Investment Committee, its Leveraged Credit
Investment Committee and its Portfolio Management Committee.
Mr. Falk has served on the boards of the Loan
Syndications and Trading Association (LSTA), Corporate Capital
Trust and Corporate Capital Trust II – business development
companies sub-advised by KKR – and various companies on behalf of
Deutsche Bank. Mr. Falk holds both a Master of Science and a
Bachelor of Science in Chemical Engineering from Stanford
University.
Management CommentaryPeter A.
Reed, GECC’s Chief Executive Officer, stated, “We are honored to
have Erik join our Board of Directors, as his asset management and
credit market insights and experience will be valuable assets as we
seek to maximize shareholder value at GECC. I would also like to
thank John Stuart for his service to the Board. John remained on
the Board following the Full Circle merger in 2016 and was
instrumental in facilitating the transition of the portfolio to
GECC. We wish John the best in his future endeavors.”
About Great Elm Capital Corp.
Great Elm Capital Corp. is an externally managed, specialty finance
company focused on investing in debt instruments of middle market
companies. GECC elected to be regulated as a business development
company under the Investment Company Act of 1940, as amended. GECC
seeks to generate attractive, risk-adjusted returns through both
current income and capital appreciation.
Cautionary Statement Regarding
Forward-Looking Statements Statements in this
communication that are not historical facts are “forward-looking”
statements within the meaning of the federal securities laws. These
statements are often, but not always, made through the use of words
or phrases such as “expect,” “anticipate,” “should,” “will,”
“estimate,” “designed,” “seek,” “continue,” “upside,” “potential”
and similar expressions. All such forward-looking statements
involve estimates and assumptions that are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from the results expressed in the statements.
Among the key factors that could cause actual results to differ
materially from those projected in the forward-looking statements
are: conditions in the credit markets, the price of GECC common
stock, the performance of GECC’s portfolio and investment manager
and risks associated with the economic impact of the COVID-19
pandemic on GECC and its portfolio companies. Information
concerning these and other factors can be found in GECC’s Annual
Report on Form 10-K and other reports filed with the SEC. GECC
assumes no obligation to, and expressly disclaims any duty to,
update any forward-looking statements contained in this
communication or to conform prior statements to actual results or
revised expectations except as required by law. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date hereof.
This press release does not constitute an offer
of any securities for sale.
Media & Investor Contact:
Investor Relations
+1
(617)
375-3006 investorrelations@greatelmcap.com
Adam PriorThe Equity Group Inc.+1 (212)
836-9606aprior@equityny.com
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