Janus Henderson buys majority stake in Victory Park Capital

Janus Henderson has acquired a majority stake in Victory Park Capital (VPC), in its latest foray into the private credit space.

The global asset manager said that the deal complements its $36.3bn (£28.4bn) securitised assets business and expands its capabilities in private markets.

VPC specialises in asset-backed lending and real estate credit, and has assets under management of around $6bn.

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Janus Henderson said that the partnership will enable “mutually beneficial growth opportunities”, highlighting VPC’s institutional relationships and its investment capabilities tailored to insurance companies.

Meanwhile, VPC can benefit from Janus Henderson’s distribution network across the institutional and wealth channels, it said.

“Asset-backed lending has emerged as a significant market opportunity within private credit, as clients increasingly look to diversify their private credit exposure beyond only direct lending,” said Ali Dibadj, chief executive of Janus Henderson.

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“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 securitized finance.”

Janus Henderson is using a mix of cash and shares to make the acquisition, which is expected to be neutral-to-accretive to earnings per share in 2025.

The value of the deal was not disclosed.

The acquisition follows Janus Henderson’s recent announcement that it will acquire the National Bank of Kuwait’s emerging markets private investments team, NBK Capital Partners, which is expected to close later this year.

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