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Insider of Alcentra Capital: Buys Stock

  • In a Form 4 filing on Friday September 9, David Scopelliti reported purchasing 2,000 shares the day before at $12.88.
  • Mr Scopelliti is an SVP at Alcentra (ABDC) and is responsible “for transaction sourcing, deal execution and the monitoring of portfolio companies”.
  • He joined Alcentra relatively recently in 2014. See his LinkedIn profile here. He’s a critical member of the External Manager’s team.
  • Mr Scopelliti divides his time between the BDC and private funds managed by Alcenta/BNY Mellon.
  • The purchase brings Mr Scopelliti’s ownership in BDC to 4,600 shares or about $60,000.
  • BDC Activist adds: “Some shareholders like to see members of the External Manager’s management team owning shares in the company”.
  • Adds: “The presumption is that such ownership creates similar objectives between Manager and Stockholder”.
  • Continues: “The BDC Activist, though, fears that an External Manager’s interest in the rich fee structure enjoyed in a BDC trumps all other considerations, but we report on insider purchases of stock anyway. “
  • Concludes: “In this case, Mr Scopelliti’s aggregate holdings are modest, but noteworthy”.