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.

A Credit Suisse spokesman declined to comment. A Bank of New York representative was not immediately available for comment.

The deal has stood out as an example of CLO manager consolidation, which has been going on since the financial crisis. Last month, Citigroup said it had acquired responsibility for four CLOs from DiMaio Ahmad Capital. Carlyle Group acquired a $500 million CLO from Foothill Group, a unit of Wells Fargo & Co.

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