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”.