Global active asset manager Janus Henderson Group has agreed to acquire a majority stake in Victory Park Capital Advisors, a global private credit manager.
Financial terms of the deal remain undisclosed, though it has been revealed that the consideration will be paid in cash and Janus Henderson common stock.
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This deal is set to complement Janus Henderson’s existing securitised credit franchise and expand its private market offerings for clients.
It is projected to be neutral-to-accretive to earnings per share by 2025.
The transaction is anticipated to be finalised in the fourth quarter of 2024, contingent on the fulfilment of regulatory clearances and other standard closing conditions.
Founded in 2007, Victory Park Capital is engaged in providing customised private credit solutions. The company has invested around $10.3bn across more than 220 transactions and manages assets worth around $6bn.
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By GlobalDataThe acquisition forms part of Janus Henderson’s client-led expansion of its private credit capabilities, following its recent move to acquire NBK Capital Partners from the National Bank of Kuwait.
Janus Henderson anticipates the acquisition to broaden its product range for its growing insurance client base, leveraging VPC’s tailored investment capabilities for insurance companies.
Janus Henderson CEO Ali Dibadj said: “As we continue to execute our client-led strategic vision, we are pleased to expand Janus Henderson’s private credit capabilities further with Victory Park Capital.
“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.”
Furthermore, Janus Henderson’s global institutional and private wealth distribution platform will facilitate the distribution and development of VPC’s products on a global scale.
VPC senior partner and co-founder Brendan Carroll said: “This partnership creates tremendous value for clients through accelerated product development and cross-selling opportunities. We look forward to building on VPC’s successful track record together with Janus Henderson to continue to deliver differentiated private credit solutions for current and prospective investors and portfolio companies.”
