Franklin Templeton completed the acquisition of Alcentra from BNY Mellon.

Franklin Templeton, an investment firm, completed the acquisition of Alcentra, a manager of private debt, from BNY Mellon, an investment banking services holding company. Financial terms are not disclosed. “We’re delighted to announce the acquisition of Alcentra and look forward to welcoming its talented team to our firm. We have been deliberate in building our alternative asset management capabilities over recent years and the acquisition of Alcentra is an important aspect of our alternative asset strategy – the expansion into alternative European credit. Alternative investments represent a significant diversification tool for our clients and an area of increasing importance for both individual and institutional investors. This acquisition expands our long-standing relationship with BNY Mellon, and we are pleased that the structure of the transaction achieves objectives for both Franklin Templeton and BNY Mellon in the context of current market conditions," Jenny Johnson, Franklin Templeton President and CEO.