Michael A. Tamasco Named President of Steadfast Alcentra Global Credit Fund

IRVINE, Calif. and NEW YORK, Aug. 1, 2017 /PRNewswire/ -- Steadfast Alcentra Global Credit Fund, an unlisted closed-end fund advised by Steadfast Investment Adviser, LLC, an affiliate of Steadfast Companies, and sub-advised by Alcentra NY, LLC ("Alcentra"), a BNY Mellon investment boutique, announced today that Michael A. Tamasco, CFA, has been named president of the fund and will oversee its day-to-day management effective immediately.

Tamasco will also serve as president of Steadfast Investment Adviser, LLC, and will seek to further Steadfast Companies' efforts to expand in the direct equity and debt markets.  Tamasco previously served as managing director of Optima Fund Management, one of the oldest hedge fund and multi-product alternative investment firms in the industry.  He served as a member of the firm's management committee and head of North American business development.  Prior to Optima, Tamasco was co-head of Rothschild Asset Management US and global co-head of distribution for the $50 billion global asset management businesses of the Rothschild Group.  Earlier in his career, Tamasco worked in a number of senior roles with Lazard Asset Management, PaineWebber Incorporated and Sanwa Securities (USA).

"Michael is a proven leader in the financial services arena, with a wealth of knowledge and experience in both the United States and internationally," said Christopher Hilbert, president of Steadfast Companies. "He is the ideal person to serve as president of Steadfast Alcentra Global Credit Fund, and I trust he will lead the fund to become an active global leader in the alternative investment space."

"In a low yield environment, direct lending offers the potential for attractive risk-adjusted returns, with low correlation to other asset classes," said Tamasco. "The complementary expertise of Steadfast and Alcentra provides an opportunity for the fund and its investors to gain exposure to a private equity-style approach to lending, and I am very excited to play a key role in guiding the effort."

Steadfast teamed with Alcentra Group (as defined below) earlier this year to organize the fund.  Alcentra Group will source and actively manage, as applicable, the fund's direct lending investments, backed by its deep institutional expertise and experience in providing debt and equity financing to middle-market companies, both in the United States and Europe. The fund's objective is to provide qualified investors current income and capital preservation with the potential for capital appreciation.

Steadfast Alcentra Global Credit Fund is registered under the Investment Act of 1940 and is offering up to $3 billion in common shares of beneficial interest. The fund intends to use the proceeds of the offering to provide customized financing solutions to lower middle-market and middle-market companies in the form of floating and fixed rate senior secured loans, second lien loans and subordinated debt.

About Steadfast

Steadfast Alcentra Global Credit Fund's adviser is Steadfast Investment Adviser, LLC, an affiliate of Steadfast Companies, a group of integrated investment, management and development companies. Steadfast Companies, with its corporate office located in Irvine, Calif., owns and/or manages more than $4.6 billion in assets as of December 31, 2016[1] and employs a staff of over 2,100 in the United States and Mexico. Since its founding in 1994, Steadfast Companies has, directly or indirectly, sponsored 50 privately or publicly offered prior investment programs.

About Alcentra

Alcentra Group is a market leader with a significant  track record and  market share in managing investments in private debt on a global basis. Alcentra Group is comprised of Alcentra NY, LLC and Alcentra Limited and has investment offices in London, New York and Boston and representatives in San Francisco, Singapore and Hong Kong. Alcentra Group is one of thirteen affiliated investment management firms that are part of BNY Mellon Investment Management, 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 management as of June 30, 2017[2].

Alcentra Group entities are subsidiaries of the BNY Alcentra Group Holdings, Inc. which is a subsidiary of The Bank of New York Mellon Corporation. Alcentra Group  is a specialist manager of global sub-investment grade credit with $31.5 billion of assets under management across more than 75 investment vehicles[3]. Alcentra Group has more than 130 employees, including 65 investment professionals.

This press release contains certain forward-looking statements. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the risk factors sections of the fund's prospectus and other reports filed with the Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and the fund undertakes no obligation to update any such statements that may become untrue because of subsequent events.

Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. There is no guarantee that the fund's objective will be achieved or investment strategy will be successful.

Securities are distributed by Steadfast Capital Markets Group, LLC Member: FINRA/SIPC

THIS PRESS RELEASE IS QUALIFIED FOR ISSUANCE IN THE US ONLY AND IS FOR INFORMATIONAL PURPOSES ONLY. THIS PRESS RELEASE IS ISSUED TO MEMBERS OF THE FINANCIAL PRESS AND MEDIA AND THE INFORMATION CONTAINED HEREIN SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE.  THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION, OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE. AN OFFER IS MADE ONLY BY THE PROSPECTUS. FOR A COPY OF THE PROSPECTUS, PLEASE CONTACT YOUR INVESTMENT PROFESSIONAL OR STEADFAST CAPITAL MARKETS GROUP AT 877.567.SCMG (7264).  INVESTORS SHOULD READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.

[1] Sourced by Steadfast

[2] Sourced by BNY Mellon.

[3] Sourced by Alcentra Group as of March 31, 2017.  Assets under management reflect assets of all accounts and portions of accounts managed by Alcentra Group for itself and assets managed by Alcentra Group personnel for affiliates under dual officer arrangements.  

SOURCE Steadfast Alcentra Global Credit Fund