Portfolio Update

RNS Number : 6347I

VPC Specialty Lending Invest. PLC

27 March 2015

 

27 March 2015

VPC Specialty Lending Investments PLC

Portfolio update

The Board of Directors (the "Board") of VPC Specialty Lending Investments PLC (the "Company") (ticker: VSL) is pleased to announce that the Company has made certain new investments.

The Company has acquired a number of investments from private funds managed by the Company's investment manager, Victory Park Capital Advisors, LLC ("Victory Park Capital" or "Investment Manager"). These positions include marketplace loans originated by OnDeck Capital, Funding Circle USA, and Upstart Network, as well as balance sheet loans to Borro and Kreditech. In addition, the Company has provided a new balance sheet loan to Applied Data Finance, LLC. The total consideration for all these investments made by the Company was £35.5 million.

The Company also announces that it intends to invest approximately £20 million in an existing investment fund managed by the Investment Manager. The investment fund invests in similar specialty finance opportunities to the Company and is currently invested in a number of platforms. Once this additional investment is made, expected to be in April 2015, the Company will have invested more than 28 per cent. of the net IPO proceeds.

All of the positions acquired from the private funds have been independently valued or reviewed on behalf of the Company prior to approval by the Board.

For further information, please contact:

Victory Park Capital Brendan Carroll (Partner and Co-Founder)	via Newgate (below)
Gordon Watson (Principal, Investment Manager)
Jefferies International Limited (Corporate Broker)	Tel: [phone]
Gary Gould
Alex Collins
Newgate (Financial PR)	Tel: [phone]
James Benjamin Geet Chawla	Email: [e-mail]

NOTES:

VPC Specialty Lending Investments PLC invests in opportunities within the specialty lending market primarily through online lending platforms. The Company intends to generate an attractive total return for shareholders consisting of dividend income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily US and Europe) and credit bands. The Company expects to be substantially fully invested within a period of six months following Admission.

Since 2010, the Company's investment manager, Victory Park Capital, has been actively involved in the specialty lending marketplace and has made more than $2.2 billion of investments and commitments across a number of financial technology platforms, multiple geographies (U.S., U.K. and Europe), products (consumer and business) and structures (whole loans and senior credit facilities).

Further information on VPC Specialty Lending Investments PLC is available at www.vpcspecialtylending.com 

 

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