Janus Henderson to acquire $9b AuM private credit firm

Global asset management firm Janus Henderson has confirmed it will take a majority stake in private credit firm Victory Park Capital Advisers (VPC), bolstering its private markets and insurance investment offering.

Janus said the takeover of the Chicago-headquartered private credit firm, which manages around US$6 billion (AU$9.1 billion) in client funds, would complement its securitised credit franchise and boost its expertise in public asset-backed securitised markets and private markets.

Janus said its acquisition of VPC would complement and build upon its already US$36.3 billion (AU$55.2) billion in securitised assets under management globally.

“This partnership is highly synergistic and will enable mutually beneficial growth opportunities,” Janus said in a statement.

“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.

Janus notes that it will also be able to leverage VPC’s insurance sector-tailored investment capabilities, expanding the firm’s product offering for its growing insurance clientele.

As part of the takeover arrangement, Janus has confirmed it will distribute and develop VPC’s products through its global institutional and private wealth distribution platform and financial intermediaries.

VPC boasts that, since inception, it has invested around US$10.3 billion across over 220 investments.

This acquisition of VPC comes after its announcement in May that it will acquire the National Bank of Kuwait’s emerging markets private investments team, NBK Capital Partners, further expanding its private credit capabilities.

Commenting on the acquisition, Janus chief executive Ali Dibadj noted the “significant market opportunity” of asset-backed lending within the private credit space, with clients “increasingly [looking] 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 securitised finance,” Dibadj said.

“We believe this acquisition will enable us to continue to deliver for our clients, employees, and shareholders.”

Founded in 2007 and headquartered in Chicago, VPC has specialised in asset-backed lending since 2010, including in small business and consumer finance, financial and hard assets, and real estate credit.

Among its investment offerings also include 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.