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VPC Specialty gives portfolio update

27 March 2015 09:25

VPC Specialty Lending Investments has acquired a number of investments from private funds managed by its investment manager, Victory Park Capital Advisors.

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.

At 9:25am: (LON:VSL) Vpc Specialty Lending Investments Plc Ord Gbp0.01 share price was -0.37p at 99.38p

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Related Company: VSL

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