Alcentra boosts European direct lending team as co-head retires

London-headquartered Alcentra announced personnel changes within its expanding European direct lending business. Peter Glaser has been appointed to head of European direct lending, as Graeme Delaney-Smith has decided to retire after 16 years at the $41 billion private debt specialist firm. Glaser became the co-head of the group one year ago, joining Alcentra from KKR. Taking full responsibility for the team, Glaser had been a co-head of the team and now oversees the day-to-day operations with the responsibility for managing the direct lending team’s growth strategy. He will also continue as portfolio manager for Alcentra’s European Direct Lending (EDL) business and sits on its European and U.S. direct lending investment committees. “Alcentra is one of the largest players in European private debt markets, with a strong origination and execution track record which has enabled us to grow significantly in direct lending,” said David Forbes-Nixon, Alcentra’s chief executive officer. “Peter’s career spans more than three decades, with a deep understanding of the direct lending market, which makes him extremely well placed to drive the next phase for the EDL team.” Alcentra has grown its EDL business to €12 billion in AUM over the past five years and its third vintage of funds represents €6.5 billion of investable capital. The company said that there will be a six-month transition period in the lead-up to Delaney-Smith’s departure and in addition Alcentra announced two senior hires to the 33-strong team. Howard Sharp joins as head of origination and manager director in July 2020. He joins from Park Square Capital, where he was a partner and head of mid-market direct lending for four years. In this role, he was responsible for coordinating the sponsor coverage and origination activities of the firm. Paul Hollis becomes managing director, focusing on origination and execution on a pan-European basis this month. He joins Alcentra from Fosun Asset Management where he was managing director. In this role, he was responsible for establishing their direct lending business in Europe and supporting UK private equity origination for Fosun International.

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