Bank of New York Mellon has pulled the sale of its Alcentra unit, which manages $17 billion in CLOs and other vehicles that contain leveraged loans and high yield bonds, according to a Bloomberg report.

Bank of New York Mellon hired Credit Suisse to find a buyer for its Alcentra unit last month. Alcentra, which has been a subsidiary of BNY Mellon since January 2006, is 4.5% owned by its employees.

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