KKR Is Said to Bid for BNY’s Credit Investment Arm Alcentra (1)

Private equity firm KKR & Co.is among suitors competing to acquire Bank of New York Mellon Corp.’s credit investment arm Alcentra, a deal that would add $43 billion of assets under management, according to people familiar with the matter.

BNY Mellon has held talks with a range of potential buyers including PGIM, the asset management unit of Prudential Financial Inc., the people said. Other private equity firms also expressed initial interest in the business, according to the people, who asked not to be identified because the information is private.

Alcentra specializes in alternative credit investments across leveraged ...