In a move that underscores the growing investor appetite for private credit, Janus Henderson, the British-American asset management firm with approximately £361 billion in assets under management, has announced a deal to acquire a controlling stake in Chicago-based Victory Park Capital Advisors. The transaction, which involves a combination of cash and company stock, will provide a clear path for Janus Henderson to eventually assume full ownership of Victory Park.
The acquisition of Victory Park Capital comes shortly after Janus Henderson’s agreement to purchase the alternative investments arm of the National Bank of Kuwait, signalling the asset manager’s concerted effort to expand its private credit capabilities. As investors increasingly seek to diversify their private credit exposure beyond direct lending, asset-backed lending has emerged as a significant market opportunity within the sector.
Janus Henderson CEO Ali Dibadj emphasised the alignment between Victory Park’s expertise in private credit and insurance and the evolving needs of the company’s clients. The deal is expected to bolster Janus Henderson’s existing strengths in securitised finance and contribute to the firm’s strategic objective of diversification.
The partnership between Janus Henderson and Victory Park Capital is indicative of a broader trend in the asset management industry, with traditional firms seeking to tap into the growing demand for alternative investments among affluent retail investors. By leveraging the distribution networks of larger asset managers, smaller specialists like Victory Park Capital can scale their strategies and reach a wider audience.
Richard Levy, CEO and founder of Victory Park Capital, expressed confidence that the partnership will enable the firm to accelerate its growth, diversify its product offering, and expand its geographic reach and origination channels. As the asset management landscape continues to evolve, deals like this one are likely to become increasingly common, as firms strive to meet the changing needs and preferences of investors in an increasingly competitive market.
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