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Victory Park collects mammoth $2.4bn for asset backed opportunistic credit strategy

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Private credit specialist Victory Park Capital has held the final close its Asset Backed Opportunistic Credit Fund on $2.4bn of committed and invested capital, including separately managed accounts investing alongside the fund.

The firm also secured a term credit facility to complement the fund’s investable capital.

The fund seeks to provide customized credit solutions to established and emerging, asset-rich companies with strong growth trajectory. According to the firm’s history, it is usually the sole lender of the deal.

Brendan Carroll, co-founder and senior partner, said, “Since 2007, VPC has executed a disciplined approach to private credit investing by targeting and structuring investments to generate attractive risk-adjusted returns throughout various market cycles. We are gratified by the strong support shown by the institutional investor community for Victory Park’s strategy.”

Jeff Schneider, COO and partner, said, “The Fund significantly exceeded its target, reflecting strong investor appetite for Victory Park’s deep asset class expertise, agile investing acumen and culture of risk management. Investable capital in the strategy is over 50% deployed with an exciting pipeline ahead.”

The firm has recently provided a $100m credit facility for e-commerce third part seller Juvo+ and participated in a $83.5m growth-capital investment in Agora Brands led by Maverix Private Equity.

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