(Bloomberg) -- 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 finance, private credit and special situations. The London-based firm, led by Chief Executive Officer Jon DeSimone, has over 180 professionals working for the business globally. It’s particularly well known for its direct lending and collateralized loan obligation businesses.

No final decisions have been made, and there’s no certainty the deliberations will lead to a transaction, the people said. Representatives for BNY Mellon, KKR and PGIM declined to comment. 

Alternative asset managers have been seeking to diversify their offerings, to lure more investors and become a one-stop shop for everything from buyout strategies to infrastructure to real estate. Bridgepoint Group Plc bought EQT AB’s credit arm in 2010. 

T. Rowe Price Group Inc. last year acquired Oak Hill Advisors, one of the biggest players in alternative credit, for about $4.2 billion to expand into private debt investing. KKR already manages about $185 billion in its credit strategy globally as of Sept. 30, according to its website.

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