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VPC Sells Peer-To-Peer Loan Portfolio, Seeks Less Volatile Returns

Thu, 22nd Dec 2016 08:25

LONDON (Alliance News) - VPC Specialty Lending Investments PLC said Thursday it has sold its portfolio of peer-to-peer loans originated via lending marketplace Funding Circle UK.

Although VPC did not disclose the exact price of the sale, it noted the portfolio had already been valued at its expected sale price on October 31 and it therefore expects the financial impact of the disposal to be "largely limited" to transaction costs. As at October 31, the loan portfolio represented 7.7% of VPC's net asset value.

"The sale helps accelerate the company's strategy of reallocating capital away from market place lending investments into balance sheet investments that have consistently generated higher returns with less volatility," said VPC.

The proceeds of the sale will be re-invested in the first quarter of 2017, said the company.

Shares in VPC Specialty Lending Investments were untraded at 77.75 pence early Thursday.

By Adam Clark; adamclark@alliancenews.com

Copyright 2016 Alliance News Limited. All Rights Reserved.

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