Steadfast Alcentra Global Credit Fund, an unlisted closed-end fund advised by Steadfast Investment Adviser, an affiliate of Steadfast Companies, and sub-advised by Alcentra NY, a BNY Mellon investment boutique, has appointed Michael A Tamasco, CFA, as president.
Tamasco, who will also serve as president of Steadfast Investment Adviser, previously served as managing director of Optima Fund Management, one of the oldest hedge fund and multi-product alternative investment firms in the industry. He served as a member of the firm’s management committee and head of North American business development. Prior to Optima, Tamasco was co-head of Rothschild Asset Management US and global co-head of distribution for the USD50 billion global asset management businesses of the Rothschild Group. Earlier in his career, Tamasco worked in a number of senior roles with Lazard Asset Management, PaineWebber Incorporated and Sanwa Securities (USA).
“Michael is a proven leader in the financial services arena, with a wealth of knowledge and experience in both the United States and internationally,” says Christopher Hilbert, president of Steadfast Companies. “He is the ideal person to serve as president of Steadfast Alcentra Global Credit Fund, and I trust he will lead the fund to become an active global leader in the alternative investment space.”
“In a low yield environment, direct lending offers the potential for attractive risk-adjusted returns, with low correlation to other asset classes,” says Tamasco. “The complementary expertise of Steadfast and Alcentra provides an opportunity for the fund and its investors to gain exposure to a private equity-style approach to lending, and I am very excited to play a key role in guiding the effort.”
Steadfast teamed with Alcentra Group (as defined below) earlier this year to organise the fund. Alcentra Group will source and actively manage, as applicable, the fund’s direct lending investments, backed by its deep institutional expertise and experience in providing debt and equity financing to middle-market companies, both in the United States and Europe. The fund’s objective is to provide qualified investors current income and capital preservation with the potential for capital appreciation.
Steadfast Alcentra Global Credit Fund is registered under the Investment Act of 1940 and is offering up to USD3 billion in common shares of beneficial interest. The fund intends to use the proceeds of the offering to provide customised 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.
