Fidus Investment Corporation Announces Board and Committee Changes
March 08, 2019 at 04:06 pm EST
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By correspondence dated March 7, 2019, John A. Mazzarino informed the Board of Directors of Fidus Investment Corporation of his intent to resign as director of the Company, and as a member of the Company's Audit & Compensation Committee and Nominating and Corporate Governance Committee, effective as of March 7, 2019. Mr. Mazzarino informed the Board that his resignation was for personal reasons and was not due to any disagreements with the Company relating to the Company's operations, policies or practices. On March 7, 2019, the Board elected Edward X. Tune as an independent director, effective March 7, 2019, to fill the vacancy created by Mr. Mazzarino's departure. Mr. Tune will serve until the 2019 annual meeting of the stockholders of the Company. Mr. Tune was also elected to serve as a member of the Audit & Compensation Committee and the Nominating and Corporate Governance Committee. Mr. Tune is a Partner of Brown Advisory, an investment management firm with offices in North America and Europe. Prior to joining Brown Advisory, Mr. Tune was a Managing Director at Brown Brothers Harriman (BBH) where for 14 years he served in a variety of client-facing and leadership roles in Charlotte and Chicago, including Chief Operating Officer and Chief Financial Officer for BBH's wealth management unit.
Fidus Investment Corporation operates as an externally managed, closed-end, non-diversified business development company. It provides customized debt and equity financing solutions to lower middle-market companies. Its investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments. Its investment strategy includes partnering with business owners, management teams and financial sponsors by providing customized financing for ownership transactions, recapitalizations, strategic acquisitions and others. Its equity securities typically include either a direct minority equity investment in common or preferred stock or membership/partnership interests of a portfolio company, or it may receive warrants to buy a minority equity interest in a portfolio company in connection with a debt investment. Its investment activities are managed by Fidus Investment Advisors, LLC.