BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc., BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, ...
15 Enero 2021 - 7:30AM
Business Wire
BNY Mellon Alcentra Global Multi-Strategy Credit Fund,
Inc. announced that its Board of Directors approved, effective
January 31, 2021 (the "Effective Date"), the appointment of
Jonathan DeSimone as a primary portfolio manager of BNY Mellon
Alcentra Global Multi-Strategy Credit Fund, Inc.
In addition, BNY Mellon Alcentra Global Multi-Strategy Credit
Fund, Inc., BNY Mellon Alcentra Global Credit Income 2024 Target
Term Fund, Inc. (NYSE: DCF) and BNY Mellon High Yield
Strategies Fund (NYSE: DHF) (each, a "Fund" and, collectively,
the "Funds") announced that, as of the Effective Date, Leland Hart
will no longer serve as a primary portfolio manager of the
Funds.
BNY Mellon Investment Adviser, Inc. ("BNYM Investment Adviser")
will continue to be each Fund's investment adviser, and Alcentra
NY, LLC ("Alcentra"), an affiliate of BNYM Investment Adviser, will
continue to be the sub-investment adviser to BNY Mellon Alcentra
Global Multi-Strategy Credit Fund, Inc. and DCF.
Mr. DeSimone joined Alcentra in September 2020 and is Alcentra's
Chief Executive Officer. He chairs Alcentra's Executive Management
Committee and is a member of the various Alcentra Investment
Committees. Prior to joining Alcentra, Mr. DeSimone worked at Bain
Capital Credit (formerly, Sankaty Advisors) from 2002 to 2019,
serving as Chief Investment Officer for Liquid Credit from 2012 to
2018 and a member of the firm's Credit Committee from 2008 to 2018.
He worked with institutional investors around the world to deploy
capital into the high yield, leveraged loan, structured credit,
private credit and distressed and special situations markets. He
opened the firm's London office in 2005 where he was based until
2009 and previously served as a sector analyst in chemicals and
business services.
The investment strategies of the Funds are not changing and, as
of the Effective Date, each Fund will be managed by its portfolio
management team, as outlined below:
Name of Fund
Primary Portfolio Managers
BNY Mellon Alcentra Global Multi-Strategy
Credit Fund, Inc.
Chris Barris
Kevin Cronk
Jonathan DeSimone
Hiram Hamilton
Graham Rainbow
Suhail Shaikh
DCF
Chris Barris
Kevin Cronk
Hiram Hamilton
DHF
Chris Barris
Kevin Cronk
With respect to BNY Mellon Alcentra Global Multi-Strategy Credit
Fund, Inc., each of the primary portfolio managers reviews and
recommends the allocation and rebalancing of the Fund's assets
across the Fund's various credit strategies, with, as of the
Effective Date, final determinations being made by Messrs. Barris
and DeSimone. In addition, in connection with Mr. DeSimone's
appointment as a primary portfolio manager of the Fund, the Fund's
Board of Directors approved, as of the Effective Date, Mr. DeSimone
as a "key person" for purposes of a "key person event" (as that
term is defined in the Fund's initial public offering prospectus,
as supplemented), which, as of the Effective Date, will be
triggered if any two of Chris Barris, Kevin Cronk, Jonathan
DeSimone or Graham Rainbow depart Alcentra or cease to
manage/supervise the affairs of the Fund during the life of the
Fund.
*************
BNY Mellon Investment Adviser, Inc., the investment adviser for
the Funds, and Alcentra NY, LLC, the sub-investment adviser for DCF
and BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc.,
are part of BNY Mellon Investment Management. BNY Mellon Investment
Management is one of the world's leading investment management
organizations and one of the top U.S. wealth managers, with US $2.0
trillion in assets under management as of September 30, 2020. BNY
Mellon Investment Management encompasses BNY Mellon's affiliated
investment management firms, wealth management organization and
global distribution companies. Through an investor-first approach,
BNY Mellon Investment Management brings to clients the best of both
worlds: specialist expertise from eight world-class investment
firms offering solutions across every major asset class, backed by
the strength, stability, and global presence of The Bank of New
York Mellon Corporation (NYSE: BK), one of the world's most trusted
investment partners, which has US $38.6 trillion in assets under
custody and/or administration as of September 30, 2020.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation and may also be used as a generic term to reference the
Corporation as a whole or its various subsidiaries generally.
Additional information on BNY Mellon Investment Management is
available on www.im.bnymellon.com. BNY Mellon Investment
Management's website is intended to allow investors public access
to information regarding the Funds and does not, and is not
intended to, incorporate the website in this release.
This release is for informational purposes only and should not
be considered as investment advice or a recommendation of any
particular security.
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version on businesswire.com: https://www.businesswire.com/news/home/20210115005308/en/
For Press Inquiries: BNY Mellon Investment Adviser, Inc.
Benjamin Tanner (212) 635-8676
For Other Inquiries: BNY Mellon Securities Corporation The
National Marketing Desk 200 Park Avenue New York, New York 10166
1-800-334-6899
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