In operation since 1998, Alcentra U.S. is a part of Alcentra and provides a range of financial services in the United States. It employs portfolio managers and credit, industry research and operations professionals. The company offers total return funds that generate investment returns across all parts of the corporate capital structure and structured finance opportunities. Alcentra U.S. provides liquidity services for the leveraged finance market. It invests in second-lien notes, subordinated debt, and preferred and common stock in the support of middle market companies undergoing acquisitions, recapitalizations, buyouts and growth financing. The company additionally provides unlevered proprietary funds that invest in first-lien term loans and revolving credit facilities.