New investment to Avant, Inc.

RNS Number : 8044J

VPC Specialty Lending Invest. PLC

10 April 2015

 



10 April 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 a new investment of approximately £11.7 million by way of a balance sheet loan to Avant, Inc. ("Avant"), a Chicago-based financial technology platform offering consumer credit. 

Victory Park Capital Advisors, LLC ("Victory Park Capital"), the Company's investment manager, has been an early financial partner of Avant since it began offering consumer credit in early 2013. The Company's investment utilises part of the available capacity under Victory Park Capital's existing $500 million credit facility with Avant.

Following this investment in Avant, the Company will have committed more than 37 per cent. of the net IPO proceeds.

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 (PR adviser)	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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