Vpc Specialty Lending In... Share Discussion Threads

[davebowler] 27/3/2015 10:31

Quick work;

27 March 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 certain new investments.

The Company has acquired a number of investments from private funds managed by the Company's investment manager, Victory Park Capital Advisors, LLC ("Victory Park Capital" or "Investment Manager"). 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 GBP35.5 million.

The Company also announces that it intends to invest approximately GBP20 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.

[kefta] 18/3/2015 19:06

Thanks for setting up the thread Dave

I see that Woodford Investment management have a 19% holding. Thats quite a boost to have a renowned and respected Investor having such a large stake in the company.