Steadfast Alcentra Global Credit Fund Commences Operations

Steadfast Alcentra Global Credit Fund, a $3 billion unlisted closed-end fund, satisfied its $3 million minimum offering requirement in its initial public offering, admitted its initial shareholders, and commenced operations.

The fund acquired a portfolio of bond and loan positions with the offering proceeds, and the board of trustees authorized a 6.23 percent annualized distribution rate, based on the per share price of $9.68.

“We are pleased to have quickly met our minimum offering requirement and be able to declare an attractive distribution for our shareholders,” said Michael A. Tamasco, president of Steadfast Alcentra Global Credit Fund. “We will now aggressively pursue our investment strategy and expect to become an active lender to middle-market companies throughout the United States and Western Europe.”

Steadsfast Alcentra Global Credit Fund is advised by Steadfast Investment Adviser LLC, an affiliate of Steadfast Companies, and sub-advised by Alcentra NY LLC, a BNY Mellon investment boutique. The offering was declared effective by the SEC in May 2017 and will focus on providing financing solutions to lower middle-market and middle-market companies in the form of floating and fixed rate senior secured loans, second lien loans and subordinated debt, as well as minority equity positions.

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