LONDON, March 7, 2017 /PRNewswire/ -- Alcentra Limited
("Alcentra"), the alternative fixed income specialist for BNY
Mellon Investment Management (IM), announced the final close of its
second European direct lending fundraising. This fundraising has
brought recent commitments to €4.3bn across funds and separately
managed accounts. The firm's committed capital for the strategy now
exceeds €5.7bn.
The fundraising is part of the broader Direct Lending strategy
that Alcentra has been offering to institutional investors since
2003. To date, Alcentra has invested over €5.3 billion in middle
market companies across senior debt, unitranche, second-lien,
mezzanine and equity investments.
Alcentra has been sourcing and arranging financings to middle
market businesses in Europe since
2003. Alcentra was one of the first investment managers selected to
participate in the HM Treasury Business Finance Partnership
initiative in 2012. The closure of the second EDL fundraising
follows that of Alcentra's first EDL Fund in November 2014, whose committed capital for the
strategy exceeded €1.5bn.
Graeme Delaney-Smith, Managing
Director and Head of European Direct Lending for Alcentra,
said:
"It is an exciting time for direct lending. In recent years we
have seen a growing interest from European companies and financial
sponsors to partner with non-bank asset managers to access
financing solutions. We believe that Europe represents one of the best
opportunities in this space. Banks have had to increasingly focus
on improving their capital ratios and as a result have been unable
to lend to businesses to the extent they used to. This has created
the opportunity for investment managers with credit and structuring
expertise like Alcentra to provide financing to quality businesses.
Our direct lending platform has gone from strength to strength and
our Fund, with such significant capital committed by investors, is
the latest proof."
Jack Yang, Global Head of
Business Development at Alcentra, said:
"Globally, institutional investors are looking for meaningful,
long-term returns. Private lending is becoming a key strategy for
them, given the potential for equity-like returns and the income
and capital preservation of debt. I am very pleased with the strong
interest that this Fund has generated amongst investors. The level
of participation from pension funds, insurers, and not for profit
organisations, is indicative of the growing popularity of this
asset class and is strong recognition of Alcentra's
leadership."
Alcentra Group is a global asset management firm with assets
under management of approximately $31bn1. It is considered to
be one of the largest managers of private debt in Europe, and has received awards, including the
"Best European Direct Lending Fund" by Creditflux Manager Awards
2015, the "Direct Lender of the Year Europe 2014" and the "Deal of
the Year Europe 2014" by Private Debt Investor."
Notes to editors:
Alcentra Group is a global asset management firm with assets
under management of approximately $31bn1. Alcentra Group has
an investment track record that dates back to 1998. Strategies
include: senior loans, high yield bonds, direct lending, structured
credit, distressed debt, and multi-strategy
credit. Alcentra Group is owned by The Bank of New York
Mellon Corporation and is headquartered in London, with offices in New York and Boston.
BNY Mellon Investment Management is one of the world's
leading investment management organizations and one of the top U.S.
wealth managers, with $1.6 trillion
in assets under management2. It encompasses BNY Mellon's
affiliated investment management firms, wealth management services
and global distribution companies. More information can be found at
www.bnymellon.com.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of December 31, 2016, BNY Mellon had $29.9 trillion in assets under custody and/or
administration, and $1.6 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com.
Follow us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
All information sourced by BNY Mellon as of 07 March 2017. This press release is qualified
for issuance in the UK and Europe
is for information purposes only. It does not constitute an offer
or solicitation of securities or investment services or an
endorsement thereof in any jurisdiction or in any circumstance in
which such offer or solicitation is unlawful or not authorized.
This press release is issued by BNY Mellon Investment Management
EMEA Limited to members of the financial press and media and the
information contained herein should not be construed as investment
advice. The value of investments can fall. Investors may not get
back the amount invested. Income from investments may vary and is
not guaranteed. Investment Managers are appointed by BNY Mellon
Investment Management EMEA Limited (BNYMIM EMEA) or affiliated fund
operating companies to undertake portfolio management activities in
relation to contracts for products and services entered into by
clients with BNYMIM EMEA or the BNY Mellon funds. Registered office
of BNY Mellon Investment Management EMEA Limited: BNY Mellon
Centre, 160 Queen Victoria Street,
London, EC4V 4LA. Registered in
England no. 1118580. Authorized
and regulated by the Financial Conduct Authority. A BNY Mellon
Company.
Alcentra Limited is exempt from the requirement to hold an
Australian financial services licence under the Corporations Act
2001 in respect of the financial services; and is authorised and
regulated by the Financial Conduct Authority (FCA) under UK laws,
which differ from Australian laws. This material is for wholesale
clients only and is not intended for distribution to, nor should it
be relied upon by, retail clients. If this document is used or
distributed in Australia, it is
issued by BNY Mellon Investment Management Australia Ltd (ABN 56
102 482 815, AFS License No. 227865) located at Level 2, 1 Bligh
Street, Sydney, NSW 2000.
1 Alcentra Ltd and Alcentra NY, LLC (collectively
"Alcentra Group") are subsidiaries of BNY Alcentra Group Holdings
Inc. The Bank of New York Mellon Corporation ("BNY Mellon") holds
100% of the Alcentra Group. Assets under management reflect
assets of all accounts and portions of accounts managed by Alcentra
Group for Alcentra and assets managed by Alcentra Group
personnel for affiliates under dual officer
arrangements.
2 As of 31 December 2016
Contact:
Christian
Zarro
+44 207 163 3490
christian.zarro@bnymellon.com
Ben Tanner
212 635 8676
ben.tanner@bnymellon.com
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SOURCE BNY Mellon Investment Management