NEW YORK, April 27, 2017 /PRNewswire/ -- Alcentra
Capital Corporation (NASDAQ: ABDC) is pleased to announce that
Paul Hatfield has been named as
Chairman Emeritus of the Company and Paul
Echausse has been appointed as Chairman of the Company's
Board of Directors. In addition to his role as Chairman, Mr.
Echausse will continue to serve on the U.S. Direct Lending
Investment Committee of the Company's investment adviser, Alcentra
NY, LLC.
Also, in conjunction with David
Scopelliti's promotion as Chief Investment Officer of U.S.
Direct Lending at the Company's investment adviser, Mr. Scopelliti
has been promoted, effective as of June 30,
2017, to President and Chief Executive Officer of the
Company, succeeding Mr. Echausse in those roles. Additionally,
effective as of April 21, 2017, Mr.
Scopelliti has been elected to join Messrs. Hatfield and Echausse
on the Company's Board of Directors.
Other management changes include the promotion of Ellida McMillan, who has been instrumental in
the launch and management of the Company, to Chief Financial
Officer and Chief Operating Officer of the Company and Branko Krmpotic, who co-founded the U.S. middle
market strategy with Mr. Echausse in 1998, as the Executive Vice
President of the Company.
"David is a veteran of the U.S. middle market, managing private
capital across the balance sheet for institutional investors
including pension funds, consultants and private asset managers,"
said Mr. Echausse. "We are confident that under his
leadership, and with the support from Ellida and Branko, the
Company will continue to grow and reward its stockholders in the
years to come."
Mr. Hatfield, who also serves as Global Chief Investment Officer
for Alcentra Group, commented that, "Paul
Echausse has an opportunity to step up to Chairman, remain
involved in the direct lending business and focus on charitable
endeavors with the Catholic Church, to which he has been involved
for the past 15 years."
About Alcentra Capital Corporation
Alcentra Capital Corporation makes debt and minority equity
co-investments to U.S. middle and lower middle market
companies. Its investment objective is to provide attractive
risk-adjusted returns by generating both current income from debt
investments and capital appreciation from equity related
investments. As a business development company that has
elected to be treated as a regulated investment company for tax
purposes, the Company is required to distribute at least 90
percent of its taxable income to shareholders, making it a yield
play for investors.
About Alcentra NY, LLC
Alcentra NY, LLC is a wholly-owned subsidiary of The Bank of New
York Mellon Corporation and is part of BNY Alcentra Group Holdings,
Inc. ("Alcentra Group"), one of the world's leading sub-investment
grade credit asset managers focusing on the U.S. and European
markets. Alcentra Group has an investment track record that spans
across more than 75 separate investment vehicles and accounts
totaling approximately $32
billion.
Forward-Looking Statements
This press release may contain certain forward-looking
statements. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors. Such statements speak only as of the time when made, and
the Company undertakes no obligation to update any such
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
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SOURCE Alcentra Capital Corporation