Janus Henderson Group, one of the leading global asset managers, announced that it has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors, a global private credit manager with nearly two decades of experience in providing tailored private credit solutions for established and emerging companies. A VPC complements Janus Henderson's successful securitized credit franchise and its expertise in the public asset securitized markets, in addition to further expanding the Company's capabilities in private markets for its clients
Founded in 2007 by Richard Levy and Brendan Carroll and based in Chicago, a VPC invests in various sectors, geographies and asset classes on behalf of your long-standing institutional client base. VPC has specialized in asset-backed loans since 2010, including in the financing of small businesses and consumers, financial and tangible assets, and real estate credit. Your investment capability portfolio also includes legal financing and sourcing and management of customized investments for insurance companies. Furthermore, the company offers comprehensive solutions for structured financing and capital markets through its affiliated platform, Triumph Capital Markets. Since its creation, VPC invested approximately US$10,3 billion¹ in over 220 investments and has assets under management of approximately US$6 billion².
The Company expects that the VPC will complement and expand the US$36,3 billion³ in securitized assets under management by Janus Henderson globally. This partnership is highly synergistic and will allow for mutually beneficial growth opportunities. The long-standing partnerships of VPC with global institutional clients, including insurance companies, pension funds, foundations and sovereign funds, will strengthen Janus Henderson's position in the global institutional market. Furthermore, the investment capabilities of VPC, adapted for insurance companies, will expand Janus Henderson's product offering for its growing insurance clientele. The global platform for institutional and private wealth distribution of Janus Henderson and its significant relationships with financial intermediaries will support the distribution and development of VPC products globally
This acquisition marks another milestone in Janus Henderson's client-driven expansion of private credit capabilities, after the recent announcement that the Company will acquire the private investment team in emerging markets from the National Bank of Kuwait, a NBK Capital Partners, whose conclusion is expected by the end of this year
As we continue to execute our customer-focused strategic vision, we are pleased to further expand Janus Henderson's private credit capabilities with Victory Park Capital. Asset-backed lending has emerged as a significant market opportunity within private credit, as clients seek to diversify their exposure to private credit beyond direct financing. The investment capabilities of VPC in private credit and its deep expertise in insurance align with the growing needs of our clients, they advance our strategic objective of diversifying where we have the opportunity and expand our existing strengths in securitized finance. We believe that this acquisition will allow us to continue serving our customers, employees and shareholders,” said Ali Dibadj, CEO of Janus Henderson
We are excited to partner with Janus Henderson in the next phase of VPC's growth. This partnership is a testament to the strength of our established brand in private credit and our differentiated expertise, and we believe it will allow us to scale more quickly, diversify our product offering, expand our distribution and geographic reach, and strengthen our proprietary origination channels,”said Richard Levy, CEO, CIO and Founder of VPC
As one of the leading active asset managers with a diversified global presence, Janus Henderson is an ideal partner to support our high-level team and the ongoing expansion of VPC. We have known the leadership team at Janus Henderson for many years and believe that our organizations are aligned in our customer-focused mindset, commitment to disciplined investments and shared values. This partnership creates tremendous value for customers through accelerated product development and cross-selling opportunities. We are eager to build on the VPC's history of success alongside Janus Henderson and continue to provide differentiated private credit solutions for current and potential investors and portfolio companies,” added Brendan Carroll, Senior Partner and Co-Founder of VPC
The consideration for the acquisition consists of a combination of cash and ordinary shares of Janus Henderson and is expected to be neutral or positive for earnings per share in 2025. The acquisition is expected to be completed in the fourth quarter of 2024 and is subject to customary closing conditions, including regulatory approvals
A presentation to investors about the transaction is available on the site ofInvestor Relations of Janus Henderson
Ardea Partners acted as the exclusive financial advisor to VPC. Kirkland & Ellis LLP acted as legal advisor to VPC and Sheppard Mullin acted as legal advisor to Janus Henderson
