Janus Henderson To Acquire Private Credit Manager Victory Park Capital

Janus Henderson has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors, a global private credit manager.

VPC has a nearly two decade-long track record of providing customized private credit solutions to both established and emerging businesses and complements Janus Henderson’s securitized credit franchise and expertise in public asset-backed securitized markets, and further expands the company’s capabilities into the private markets for its clients.

“As we continue to execute on our client-led strategic vision, we are pleased to expand Janus Henderson’s private credit capabilities further with Victory Park Capital. 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,” said Ali Dibadj, Chief Executive Officer of Janus Henderson.

Founded in 2007 by Richard Levy and Brendan Carroll and headquartered in Chicago, VPC invests across industries, geographies, and asset classes and has specialised 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. It has invested approximately $10.3bn across over 220 investments, and has assets under management of approximately $6.0 billion, according to the firm.

“We are excited to partner with Janus Henderson in VPC’s next phase of growth. This partnership is a testament to the strength of our established brand in private credit and differentiated expertise, and we believe it will enable us to scale faster, diversify our product offering, expand our distribution and geographic reach, and bolster our proprietary origination channels,” said Richard Levy, Chief Executive Officer, Chief Investment Officer, and Founder of VPC.

“As a leading active asset manager with a diverse, global presence, Janus Henderson is an ideal partner to support our high-caliber team and VPC’s continued expansion. We have known the Janus Henderson leadership team for many years and believe our organizations are aligned in our client-first mentality, commitment to disciplined investing, and shared values. This partnership creates tremendous value for clients through accelerated product development and cross-selling opportunities. 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,” added Brendan Carroll, Senior Partner and Co-Founder of VPC.

This acquisition is expected to close in the fourth quarter of 2024 and is subject to customary closing conditions, including regulatory approvals. It follows the company’s recent announcement that it will acquire the National Bank of Kuwait’s emerging markets private investments team, NBK Capital Partners, which is expected to close later this year as well.

Ardea Partners served as exclusive financial advisor to VPC. Kirkland & Ellis LLP acted as legal counsel to VPC and Sheppard Mullin acted as legal counsel to Janus Henderson.