Janus Henderson has acquired a majority stake in Victory Park Capital (VPC), in its newest foray into the non-public credit score house.
The worldwide asset supervisor mentioned that the deal enhances its $36.3bn (£28.4bn) securitised property enterprise and expands its capabilities in non-public markets.
VPC specialises in asset-backed lending and actual property credit score, and has property beneath administration of round $6bn.
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Janus Henderson mentioned that the partnership will allow “mutually useful progress 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 major market alternative inside non-public credit score, as shoppers more and more look to diversify their non-public credit score publicity past solely direct lending,” mentioned Ali Dibadj, chief government of Janus Henderson.
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“VPC’s funding capabilities in non-public credit score and deep experience in insurance coverage align with the rising wants of our shoppers, additional our strategic goal to diversify the place we now have the appropriate, and amplify our present strengths in securitized finance.”
Janus Henderson is utilizing a mixture of money and shares to make the acquisition, which is anticipated 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 latest announcement that it’s going to purchase the Nationwide Financial institution of Kuwait’s rising markets non-public investments group, NBK Capital Companions, which is anticipated to shut later this 12 months.
Learn extra: Eldridge and Raymond James launch non-public credit score enterprise
