American Capital Mortgage Investment Corp. (Nasdaq: MTGE) is a mortgage REIT that invests in, finances and manages a leveraged portfolio of agency mortgage investments, non-agency mortgage investments and other mortgage-related investments.
The employees of the parent company of our Manager consist of a mortgage investment team along with support personnel that are fully dedicated to managing and servicing companies that invest in the mortgage investment industry. The members of our Manager’s investment team each have significant experience in mortgage asset management, and we expect them to be a differentiating competitive advantage relative to our competitors. We believe that our Manager will be able to leverage the existing internal resources and capabilities of our Manager’s parent and its affiliates, which we believe will be beneficial to our investors.
Our Corporate Structure
We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. We generally will not be subject to federal income taxes on our taxable income to the extent that we annually distribute all of our taxable income to stockholders and maintain our intended qualification as a REIT.
MTGE is externally managed and advised by American Capital MTGE Management, LLC pursuant to the terms of a management agreement. Our Manager is responsible for administering our business activities and day-to-day operations, subject to the supervision and oversight of our Board of Directors. The parent company of our Manager is an indirect subsidiary of a wholly-owned portfolio company of American Capital, Ltd., or American Capital (Nasdaq: ACAS), a publicly traded private equity firm and global asset manager.
American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital manages $21 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $80 billion of total assets under management (including levered assets). From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million.
American Capital has developed an institutionalized approach to its global alternative asset management business, supported by a fully-integrated organization and infrastructure. Through an administrative services agreement, our Manager has access to American Capital’s employees, infrastructure, business relationships, management expertise and capital raising capabilities, including its extensive financial reporting operations, dedicated capital markets fund raising teams, and business development and legal teams. To learn more about American Capital, please visit www.AmericanCapital.com.