REGULATORY AND COMPLIANCE
WASHINGTON -- A. Joseph Shepard has been appointed director of the Office of Investment at the Small Business Administration.
As director, Shepard will oversee the activities of the SBA's Office of Investment, which includes the Small Business Investment Company program. SBICs are privately managed venture capital funds that invest mezzanine, or long-term debt, and private equity into qualifying small businesses. As of Sep. 25, 2007, the SBIC program had a portfolio of 373 SBIC licensee funds with total committed capital of approximately $19.5 billion, according to SBA.