NEW YORK--(BUSINESS WIRE)--BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the "Fund") announced that the Board of Directors of the Fund approved the appointment of Graham Rainbow as a primary portfolio manager of the Fund. Mr. Rainbow will manage the Fund with the Fund's current primary portfolio managers: Chris Barris, Kevin Cronk, Hiram Hamilton, Leland Hart and Suhail Shaikh, each of whom has managed the Fund's assets since inception. Each of the Fund's primary portfolio managers reviews and recommends the allocation and rebalancing of the Fund's assets across the Fund's various credit strategies, with final determinations being made by Mr. Hart. BNY Mellon Investment Adviser, Inc. ("BNYM Investment Adviser") continues to be the Fund's investment adviser, and Alcentra NY, LLC ("Alcentra"), an affiliate of BNYM Investment Adviser, continues to be the Fund's sub-investment adviser.
Mr. Rainbow joined Alcentra in August 2008 and is the Co-Chief Investment Officer - Liquid Credit based in the UK and is the Senior Loan Portfolio Manager of Alcentra's European Loan funds. Mr. Rainbow chairs the European Liquid (Loans and High Yield) Investment Committee and is a member of the Special Situations and European Direct Lending Investment Committees in the UK. He is also a member of Alcentra's Executive Management Committee.
In connection with Mr. Rainbow's appointment as a primary portfolio manager of the Fund, the Board of Directors of the Fund also approved Mr. Rainbow as a "key person" for purposes of a "key person event" (as that term was defined in the Fund's initial public offering prospectus, as supplemented), which will now be triggered if any two of Leland Hart, Chris Barris, Kevin Cronk 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 Fund, 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 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 Fund and does not, and is not intended to, incorporate the website in this release.
The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. There is no assurance that the Fund will achieve its investment objective.
