Global active asset manager Janus Henderson Group has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors (VPC), a global private credit manager with a nearly two decade-long track record of providing customized private credit solutions to both established and emerging businesses.

VPC complements Janus Henderson’s securitized credit franchise and expertise in public asset-backed securitized markets, and further expands its capabilities into the private markets for its clients. 

Founded in 2007, VPC has specialized in asset-backed lending since 2010, including in small business and consumer finance, financial and hard assets, and real estate credit. Its suite of investment capabilities also includes legal finance and custom investment sourcing and management for insurance companies.

In addition, the firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. Since inception, it has invested approximately US$10.3 billion across over 220 investments, and has assets under management of approximately US$6.0 billion.

Janus Henderson expects that VPC will complement and build upon Janus Henderson’s $36.3 billion in securitized assets under management globally. This partnership is highly synergistic, the companies say, and will enable mutually beneficial growth opportunities. VPC’s long-standing partnerships with global institutional clients, including insurance companies, pensions, endowments and sovereign wealth funds, will enhance Janus Henderson’s position in the global institutional market.

In addition, VPC’s investment capabilities tailored to insurance companies will expand Janus Henderson’s product offering for its insurance clientele. Its global institutional and private wealth distribution platform and significant relationships with financial intermediaries will support the distribution and development of VPC products globally. 

“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,” says Ali Dibadj, Janus Henderson’s CEO. “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 and amplify our existing strengths in securitized finance.”