UK-based asset manager Janus Henderson Group has agreed to acquire a majority stake in the US-based private credit manager Victory Park Capital Advisors (VPC) for an undisclosed sum.
VPC has been providing customised private credit solutions to both established and emerging businesses, for nearly two decades.
The acquisition is expected to be completed in the fourth quarter of this year, subject to customary closing conditions, including regulatory approvals.
Janus said the acquisition will further expand its capabilities in the private markets.
Also, VPC will complement its securitised credit franchise and expertise in public asset-backed securitised markets, said the asset manager.
Janus Henderson CEO Ali Dibadj said: “Asset-backed lending has emerged as a significant market opportunity within private credit, as clients increasingly look to diversify their private credit exposure beyond only direct lending.
“VPC’s investment capabilities in private credit and deep expertise in insurance align with the growing needs of our clients, further our strategic objective to diversify where we have the right and amplify our existing strengths in securitized finance.
“We believe this acquisition will enable us to continue to deliver for our clients, employees, and shareholders.”
Established in 2007 in Chicago, VPC invests across industries, geographies, and asset classes on behalf of its long-standing institutional client base.
The US credit manager specialises in asset-backed lending since 2010, including in small business and consumer finance, financial and hard assets, and real estate credit.
It also offers legal finance and custom investment sourcing and management for insurance companies, and structured financing and capital markets solutions through its affiliate, Triumph Capital Markets.
According to Janus, VPC will complement and build upon its securitised assets under management worldwide, worth $36.3bn.
The UK asset manager expects that VPC’s partnerships with institutional clients will enhance its position in the global institutional market.
In addition, VPC’s customised investment offerings for insurance companies would expand its product offering for the growing insurance clientele, said Janus.
VPC senior partner and co-founder Brendan Carroll said: “As a leading active asset manager with a diverse, global presence, Janus Henderson is an ideal partner to support our high-calibre team and VPC’s continued expansion.
“We have known the Janus Henderson leadership team for many years and believe our organisations are aligned in our client-first mentality, commitment to disciplined investing, and shared values.
“We look forward to building on VPC’s successful track record together with Janus Henderson to continue to deliver differentiated private credit solutions for current and prospective investors and portfolio companies.”
The agreement follows Janus’ recent bid to acquire NBK Capital Partners, the National Bank of Kuwait’s emerging markets private investments team, which is expected to close later this year.
