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Jonathan brings significant experience to the role, having worked with institutional investors globally to deploy capital into the high yield, leveraged loan, structured credit, private credit, distressed and special situations markets. He joins 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, Jonathan spent a decade at Bain & Company working with the firm's clients across the consumer, industrial and private equity sectors.

David will continue as interim CEO of Alcentra until Jonathan's appointment is approved by the FCA. Jonathan will join Alcentra immediately as CEO designate and over the next few months will work closely with David to ensure a smooth transition of leadership.

Mitchell Harris, chief executive officer of BNY Mellon Investment Management, commented: "We are delighted to welcome Jonathan to Alcentra as the new CEO. 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."

Jonathan DeSimone commented on his new appointment: "I am honored to be joining Alcentra to build on the tremendous success that David and the team have already achieved for clients. 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."

David Forbes-Nixon, interim chief executive officer of Alcentra, said: "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. 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."