BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. announces the appointment of Graham Rainbow as Senior Portfolio Manager
NEW YORK–(COMMERCIAL THREAD) –BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the “Fund”) announced that the Board of Directors of the Fund has approved the appointment of Graham Rainbow as lead portfolio manager of the Fund. Mr. Rainbow will manage the Fund together with the current principal portfolio managers of the Fund: Chris Barris, Kevin Cronk, Hiram Hamilton, Leland Hart and Suhail Shaikh, who have each managed the assets of the Fund since its inception. Each of the principal portfolio managers of the Fund reviews and recommends the allocation and rebalancing of the Fund’s assets among the various credit strategies of the Fund, with final decisions being made by Mr. Hart. BNY Mellon Investment Adviser, Inc. (“BNYM Investment Adviser”) continues to be the investment advisor to the Fund, and Alcentra NY, LLC (“Alcentra”), a subsidiary of BNYM Investment Adviser, continues to be the sub- investment advisor to the Fund.
Mr. Rainbow joined Alcentra in August 2008 and is Co-Chief Investment Officer – UK based Liquid Credit and Senior Loan Portfolio Manager of Alcentra European Loan Funds. Mr. Rainbow chairs the European Liquid Investment Committee (Loans and High Yields) and is a member of the Special Situations and European Direct Lending Investment Committees in the UK. He is also a member of the General Management Committee of Alcentra.
In connection with the appointment of Mr. Rainbow as lead portfolio manager of the Fund, the Board of Directors of the Fund also approved Mr. Rainbow as a “key person” for the purposes of a “key person event”. (As that term was defined in the Fund’s initial public offering prospectus, as completed), which will now be triggered if two of Leland Hart, Chris Barris, Kevin Cronk or Graham Rainbow leave Alcentra or cease to manage / supervising the affairs of the Fund during the life of the Fund.
BNY Mellon Investment Adviser, Inc., the Fund’s investment advisor, is 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 US wealth managers, with $ 2,000 billion in assets under management as of September 30, 2020. BNY Mellon Investment Management encompasses BNY Mellon’s affiliated investment management companies, the management organization and global distribution companies. Through an investor-centric approach, BNY Mellon Investment Management brings to its clients the best of both worlds: the specialist expertise of eight world-class investment firms offering solutions across all major asset classes, supported by the strength, stability and global presence of Bank of New York Mellon Corporation (NYSE: BK), one of the world’s most trusted investment partners, which held US $ 38.6 trillion in assets in custody and / or under administration as of September 30, 2020.
BNY Mellon is the corporate trademark of The Bank of New York Mellon Corporation and may also be used as a generic term to refer to the Company as a whole or its various subsidiaries in general. Additional information on BNY Mellon Investment Management is available at www.im.bnymellon.com. BNY Mellon Investment Management’s website is intended to provide investors with public access to information about the Fund and does not and is not intended to integrate the website into this release.
Investment returns and the Fund’s principal values fluctuate so that an investor’s shares may be worth more or less than the original cost. There can be no assurance that the Fund will achieve its investment objective.