Alcentra Announces Final Closure of Clareant Strategic Credit Fund, LP(1)

LONDON and NEW YORK, Oct. 3, 2017 /PRNewswire/ -- Alcentra Limited and Alcentra NY, LLC (collectively "Alcentra"), the alternative fixed income specialist for BNY Mellon Investment Management (IM), today announced the final closure of Clareant Strategic Credit Fund, L.P., a €690 million closed end fund dedicated to opportunistic investing in the loans, bonds and structured credit of European companies.

This fundraising brings assets under management for Alcentra's special situations investment platform, which was launched in 2007 to over €1.0 billion. The global investment team dedicated exclusively to opportunistic investing in corporate and structured credit consists of 15 professionals.

To date, Alcentra has invested over €1.5 billion in loans, bonds, mezzanine and equity investments across its special situations investment platform, and has played leading roles in the refinancing and, or restructuring of companies across a broad range of industries in countries such as the United Kingdom, Ireland, Germany, France and Italy. Alcentra's special situations strategy has been the recipient of numerous industry recognitions from publications including: Barron's (2017), Hedge Fund Review (2016), Prequin (2015) and Barclays Hedge (2015). For additional information, please refer to Alcentra's  website at www.alcentra.com.

David Forbes-Nixon, Chairman and Chief Executive Officer for Alcentra, said:

"Such strong support from a global, sophisticated investor group is an endorsement of the success Alcentra has had delivering attractive returns in the special situations arena for nearly a decade. The Strategic Credit fund is a strong complement to our strategy, as it provides us with patient, stable capital that enhances our ability to take advantage of market volatility and longer term, less liquid investment opportunities."

Notes to editors:

Alcentra is a global asset management firm with assets under management of approximately $33bn ². Alcentra has an investment track record that dates back to 1998. Strategies include: senior loans, high yield bonds, direct lending, structured credit, special situations, and multi-strategy credit. Alcentra is a subsidiary of 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 $1.8 trillion in assets under management³. 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 June 30, 2017, BNY Mellon had $31.1 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

Unless otherwise stated herein, all information sourced by BNY Mellon as of 1 October 2017. This press release is qualified for issuance in the UK and Europe and 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.

¹ Any losses in the Clareant Strategic Credit Fund (the "Fund") will be borne solely by investors in the Fund and not by BNY Mellon (including its affiliates); therefore BNY Mellon's losses in the Fund will be limited to losses attributable to the ownership interests in the Fund held by BNY Mellon and any affiliate in its capacity as an investor in the Fund or as beneficiary of a restricted profit interest held by BNY Mellon or any affiliate. Ownership interests in the Fund are not insured by the FDIC, and are not deposits, obligations of, or endorsed or guaranteed in any way, directly or indirectly, by BNY Mellon or any of its affiliates. The investor should read the Fund's offering documents before investing, which includes information about the role of BNY Mellon, its affiliates and their employees in sponsoring or providing services to the Fund.

² As of 30 June 2017; Assets under management reflect assets of all accounts and portions of client accounts managed by Alcentra and its affiliates. Specifically, certain assets under management reflect assets managed by Alcentra personnel as employees of The Bank of New York Mellon Corporation, Standish Mellon Asset Management LLC, and The Dreyfus Corporation under a dual employee arrangement.

³ As of 30 June 2017

Contact:

Christian Zarro
+44 207 163 3490
[email protected]

Ben Tanner
(212) 635 8676
[email protected]

SOURCE Alcentra

Related Links

http://www.alcentra.com