Janus Henderson has acquired a majority stake in Victory Park Capital (VPC), in its newest foray into the personal credit score house.
The worldwide asset supervisor mentioned that the deal enhances its $36.3bn (£28.4bn) securitised belongings enterprise and expands its capabilities in personal markets.
VPC specialises in asset-backed lending and actual property credit score, and has belongings below administration of round $6bn.
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Janus Henderson mentioned that the partnership will allow “mutually helpful development alternatives”, highlighting VPC’s institutional relationships and its funding capabilities tailor-made to insurance coverage firms.
In the meantime, VPC can profit from Janus Henderson’s distribution community throughout the institutional and wealth channels, it mentioned.
“Asset-backed lending has emerged as a big market alternative inside personal credit score, as purchasers more and more look to diversify their personal credit score publicity past solely direct lending,” mentioned Ali Dibadj, chief govt of Janus Henderson.
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“VPC’s funding capabilities in personal credit score and deep experience in insurance coverage align with the rising wants of our purchasers, additional our strategic goal to diversify the place now we have the appropriate, and amplify our current strengths in securitized finance.”
Janus Henderson is utilizing a mixture of money and shares to make the acquisition, which is predicted to be neutral-to-accretive to earnings per share in 2025.
The worth of the deal was not disclosed.
The acquisition follows Janus Henderson’s current announcement that it’s going to purchase the Nationwide Financial institution of Kuwait’s rising markets personal investments crew, NBK Capital Companions, which is predicted to shut later this yr.
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