Private equity firm KKR & Co. is among suitors competing to acquire Bank of New York Mellon Corp.’s credit investment arm Alcentra, a deal that would add $43 billion of assets under management, according to people familiar with the matter.
Alternative asset managers have been seeking to diversify their offerings, to lure more investors and become a one-stop shop for everything from buyout strategies to infrastructure to real estate. Bridgepoint Group Plc bought EQT AB’s credit arm in 2010.
T. Rowe Price Group Inc. last year acquired Oak Hill Advisors, one of the biggest players in alternative credit, for about $4.2 billion to expand into private debt investing. KKR already manages about $185 billion in its credit strategy globally as of Sept. 30, according to its website.
Read more/Source: BNN Bloomberg
