Another CLO manager is on the block.

Bank of New York Mellon has hired Credit Suisse to find a buyer for its Alcentra unit, which manages $17 billion in CLOs and other investment vehicles that hold high yield loans and bonds, according to someone familiar with the plan.

Alcentra, which has been a subsidiary of BNY Mellon since January 2006, is 4.5% owned by its employees, according to information on the company’s Web site.

The planned sale is just the latest example of CLO manager consolidation, which has been going on since the financial crisis. Earlier this month, Citigroup said it had acquired responsibility for four CLOs from DiMaio Ahmad Capital. Similarly, Carlyle Group recently acquired a $500 million CLO from Foothill Group, a unit of Wells Fargo & Co.

Jack Grone, a Credit Suisse spokesman, declined to comment. Representatives from BNY Mellon did not respond to requests for comment by press time.

The planned sale was reported earlier by Bloomberg.

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