Alcentra, a manager of private debt with more than $40 billion of assets under management and part of BNY Mellon Investment Management, appointed Jonathan DeSimone CEO and to the Alcentra board of directors, subject to Financial Conduct Authority approval in the UK. This follows David Forbes-Nixon decision to step down as CEO of Alcentra to focus on his investment responsibilities.
DeSimone has worked with institutional investors globally to deploy capital into the high yield, leveraged loan, structured credit, private credit, distressed and special situations markets. He joined Alcentra following a 17-year career with Bain Capital Credit, where he was most recently portfolio manager of the liquid credit strategy and a member of the Bain Capital Credit committee. Prior to Bain Capital Credit, DeSimone spent a decade at Bain & Company working with the firm’s clients across the consumer, industrial and private equity sectors.
Forbes-Nixon will continue as interim CEO of Alcentra until DeSimone’s appointment is approved by the FCA. DeSimone will join Alcentra immediately as CEO designate and over the next few months will work with Forbes-Nixon on the leadership transition.
“We are delighted to welcome Jonathan to Alcentra as the new CEO,” Mitchell Harris, CEO of BNY Mellon Investment Management, said. “He is a proven leader with experience in private debt markets and building high calibre investment teams, who is ideally suited to drive the firm’s next chapter of growth. We thank David for his extraordinary leadership and dedication in building Alcentra into a leading global credit manager. He has played a pivotal role in Alcentra’s success over the past 17 years and will step down as CEO with our sincere gratitude.”
“I am honored to be joining Alcentra to build on the tremendous success that David and the team have already achieved for clients,” DeSimone said. “With its wide range of leading investment capabilities and global reach, Alcentra is well positioned to help investors access the compelling credit opportunities available in this unprecedented economic environment.”
“It has been a tremendous privilege to lead Alcentra and I am enormously proud that, having co-founded the business in 2002, the firm is now one of the leading global sub investment grade credit managers with over $40 billion of assets under management on behalf of more than 400 blue chip institutional clients and an incredible team of world class professionals,” Forbes-Nixon said. “Given the strength of the business today, this is the ideal time to hand over the management reins to Jonathan. Alongside Alcentra’s exceptionally talented management and investment teams, I look forward to supporting Jonathan as we continue to meet the investment needs of our clients.”
