Janus Henderson acquires majority stake in $6B global private credit manager

Global asset manager Janus Henderson Group has announced a strategic investment in a private credit manager that will enhance its capabilities in the growing asset class.

The firm will take a majority stake in Victory Park Capital Advisors, a $6 billion AUM firm that has been providing customized private credit solutions to both established and emerging businesses for almost two decades.

“We are excited to partner with Janus Henderson in VPC’s next phase of growth. This partnership is a testament to the strength of our established brand in private credit and differentiated expertise, and we believe it will enable us to scale faster, diversify our product offering, expand our distribution and geographic reach, and bolster our proprietary origination channels,” said Richard Levy, CEO, CIO, and founder of VPC.

For Janus Henderson it will further its ambitions in the private credit space, where it says there is growing demand from clients.

“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,” explained Ali Dibadj, Janus Henderson’s CEO. “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. We believe this acquisition will enable us to continue to deliver for our clients, employees, and shareholders.”

There is also expectation for VPC that backing from a firm with $36.3 billion in securitized assets under management and a pioneer in securitized ETFs will be hugely beneficial, not least because of access to Janus Henderson’s global institutional and private wealth distribution platform and significant relationships with financial intermediaries.

“As a leading active asset manager with a diverse, global presence, Janus Henderson is an ideal partner to support our high-caliber team and VPC’s continued expansion, said Brendan Carroll, VPC senior partner who co-founded the firm with Levy in 2007. “We have known the Janus Henderson leadership team for many years and believe our organizations are aligned in our client-first mentality, commitment to disciplined investing, and shared values.”

The acquisition is expected to close in the fourth quarter of 2024 and is subject to customary closing conditions, including regulatory approvals.