Leland Hart was named managing director and head of U.S. loans and high yield for Alcentra, a BNY Mellon subsidiary that specializes in subinvestment-grade corporate credit, said Alcentra spokesman Benjamin Tanner.
The position is new. Mr. Hart will lead Alcentra's 16-person $12.5 billion U.S. liquid credit investment and research team. He will be based in New York and report to Vijay Rajguru, Alcentra's global co-chief investment officer.
Mr. Hart was a managing director and head of loans and collateralized loan obligations at BlackRock (BLK). Information on a possible replacement was not available.
Alcentra had $34.7 billion in assets under management as of Sept. 30.