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.”