Janus Henderson is buying private credit manager Victory Park Capital, the asset manager said on Monday, as it seeks to expand its footprint in the private credit lending space.
Private credit funds are increasingly competing with banks, including to finance large company buyouts.
Shares of Janus Henderson were up nearly 1% on Monday.
The deal follows the recent acquisition of National Bank of Kuwait’s alternative investments business by Janus Henderson, which manages an asset portfolio worth $353 billion. That deal is expected to strengthen its position in emerging markets and help it access clientele in the Middle East.
Founded in 2007 by Richard Levy and Brendan Carroll, Chicago-headquartered VPC invests across industries, geographies and asset classes on behalf of its long-standing institutional clients. It has about $6 billion in assets under management.
The value of this acquisition, which is subject to regulatory approval, was not disclosed. However, the deal comprises a mix of cash and shares of Janus Henderson common stock and is expected to be neutral-to-accretive to its earnings per share in 2025.
Janus Henderson has $36.3 billion in securitized assets under management globally and expects that VPC will complement and build upon them, the company said.
Reuters
