Alcentra BDC selects new top exec

David Scopelliti will replace Paul Echausse as CEO this summer.  

Alcentra Capital Corporation has appointed a new chief executive officer, while moving several current managers up the corporate ladder, the firm said on Thursday.

The New York-based asset manager has promoted David Scopelliti to CEO and president in the company, according to a statement. He will succeed Paul Echausse in those roles, effective 30 June.

Alcentra has also named Scopelliti, currently managing director, as chief investment officer of US direct lending at the company's investment advisor.

Meanwhile, Echausse has been named chairman of the company’s board of directors, and he will continue his role as a committee member of the investment advisor. The departing CEO will remain involved in the direct lending business.

Another management change includes the promotion of Ellida McMillan to chief financial officer, a position also held by Echausse, and chief operating officer. McMillian “has been instrumental in the launch and management of the company”, the statement read.

Branko Krmpotic, who co-founded the US middle market firm along with Echausse in 1998, has also been bumped up to executive vice president.

“We are confident that under [David’s] leadership, and with the support from Ellida and Branko, the company will continue to grow and reward its stockholders in the years to come,” Echausse said in the statement.    

Paul Hatfield, who currently serves as global chief investment officer for Alcentra, was also named chairman emeritus.

Alcentra, which is owned by BNY Mellon, is a global manager of debt investments in North American companies with EBITDA between $5 million and $15 million. The firm’s asset management spans senior loans, direct lending/mezzanine, and distressed debt across sectors as far ranging as healthcare, business services, defence, media and oil and gas.

The firm manages approximately $32 billion in assets, according to the statement.