Investment firm KKR is among those looking to buy Alcentra, the credit investment unit of Bank of New York Mellon (BNY Mellon), Bloomberg reported citing sources.

BNY Mellon is holding talks with several potential buyers including the asset management unit of Prudential Financial, the sources told the publication.

Alcentra, with $43bn of assets under management (AUM), has attracted the interests of other private equity investors as well.

The business focuses on alternative credit investments across leveraged finance, private credit and special situations.

CEO Jon DeSimone is leading Alcentra’s team of 180 professionals working globally. The London-based firm is known for its direct lending and collateralised loan obligation businesses.

A final decision is pending and the deliberations may or may not materialise into a deal, the sources added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Acquiring Alcentra will give alternative asset managers a way to diversify their offerings and attract more investors.

Last year, KKR acquired a stake in California-based wealth advisory firm Beacon Pointe, which manages over $20bn in assets.

Earlier this week, BNY Mellon reported its Q4 2021 results.

The firm’s revenue rose 4% to $4bn for the quarter to December 2021 from $3.8bn in Q4 2020, while net income increased 15% year-on-year to $869m.