Victory Park Capital’s newly-formed investment vehicle has increased its stake in one of its sister funds, VPC Specialty Lending Investments (VSL).
Victory Park Capital said that SVS Opportunity Fund has acquired 16.61 per cent of the share capital in VSL from a major, unnamed shareholder.
SVS, which is a managed by Victory Park Capital Advisors and backed by a large US insurance company, now owns 18.12 per cent of VSL.
VSL is a London-listed investment trust investing in opportunities in the alternative lending market.
Its shares opened at 82.8p and ticked up slightly in morning trading, before settling at 82.46p in the early afternoon.
“We are pleased to welcome SVS as a new significant shareholder in VSL,” said Kevin Ingram, non-executive director and chairman of the board of VSL.
“This investment is clear evidence of their confidence in VSL’s management, long-term strategy and growth prospects.
“Building on the performance announced in January 2020, VSL is well-positioned to achieve its near- and medium-term objectives.
“We look forward to continuing to generate an attractive total return for all shareholders, built on a consistent distributable income and capital growth strategy, through asset-backed lending.”
Back in November, Victory Park Capital expressed frustration that VSL was trading at a substantial discount, despite a continued strong performance.