NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Alcentra
Capital Corporation (NASDAQ: ABDC) announced that Paul
Hatfield has been named as Chairman of the Company replacing
Paul Echausse who resigned to devote his time to a new
initiative within a non-profit that focuses on charitable
endeavors. Mr. Hatfield, Alcentra Group's Global Co-Chief
Investment Officer and President, is reassuming a position he
previously held from the time of the Company's initial public
offering in 2014 through April 2017
when he became Chairman Emeritus of the Company's board of
directors and Mr. Echausse assumed the chairmanship of the
business. Mr. Echausse has also been replaced on the investment
adviser's investment committee by Vijay
Rajguru, Alcentra Group's Global Co-Chief Investment
Officer. In addition, the Company established a lead independent
director position and appointed Steven H.
Reiff to serve in this role. Mr. Reiff has been an
independent director for the Company since January 2017 and also serves as the chairman of
the Company's valuation committee.
The Company also announced the following portfolio and
investment activities:
- The sale of IGT and Stancor, Inc. investments at par
- The full repayment by Graco Supply Company of its loan
- A $2.5 million add-on financing
for Medsurant Holdings, LLC
- A $7.0 million second lien
investment in a healthcare services business
- A debt-for-preferred equity swap in Conisus, LLC
David Scopelliti, the Company's
Chief Executive Officer commented that "the sale of IGT and Stancor
are part of a larger strategy to deploy capital into credits with
more secured and floating rate exposure and to support the
Company's stock buyback program."
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 $35 billion.1
1 Such figure reflects assets of all accounts and
portions of accounts managed by Alcentra Group for Alcentra Group
and its affiliates. Specifically, certain assets under management
reflect assets managed by Alcentra Group personnel as employees of
Standish Mellon Asset Management LLC, The Bank of New York Mellon
and The Dreyfus Corporation under a dual employee arrangement.
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