BNY Mellon Said to Pull Sale of $17 Billion Alcentra Group
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Bank of New York Mellon Corp. pulled the sale of its Alcentra unit, which manages $17 billion of loans and high-yield bonds, according to three people with knowledge of the plan.
The world’s biggest custody bank hired Credit Suisse Group AG to run the sale of the group that manages the majority of its assets in collateralized loan obligations in the U.S. and Europe, said the people, who declined to be identified because the terms are private.