Alcentra finishes second fundraising round

By Moriah Costa on Thursday 9 March 2017

Alternative LendingSavings and Investment

The close of its European fundraising brings the firm's commitments to €4.3bn of assets.

Alcentra, the alternative fixed income specialist for BNY Mellon Investment Management, has closed its second European fundraising round.

The fundraiser brings its commitments to €4.3bn across various funds and managed accounts, as part of a broader direct lending strategy available to institutional investors. The company’s committed capital is over €5.7bn.

“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,” said Graeme Delaney-Smith, managing director at Alcentra. “We believe that Europe represents one of the best opportunities in this space.”

The global asset management firm has invested over €5.3 billion into middle market companies across various investments, including senior debt, mezzanine and equity.

The firm’s first fund was in November 2014 and raised €1.5bn in committed capital. Its assets under management are approximately $31bn.

Jack Yang, global head of business development at Alcentra, said private lending is becoming increasingly popular among investors.

“Globally, institutional investors are looking for meaningful, long-term returns,” he said.  “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.”

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