Alliance News) - VPC Specialty Lending Investments PLC on Monday said SVS Opportunity Fund LP has increased its stake in the company by around 17%.
SVS is a newly-formed investment vehicle managed by Victory Park Capital Advisors and backed by a US insurance company, VPC noted. The name of the US-based insurance company was not disclosed.
SVS acquired 17% of VPC from an undisclosed shareholder, thereby increasing its total stake in the investment trust to 18% of its total issued share capital.
"We are pleased to welcome SVS as a new significant shareholder in VSL. This investment is clear evidence of their confidence in VSL's management, long-term strategy and growth prospects. VSL is well-positioned to achieve its near and medium-term objectives. We look forward to continuing to generate an attractive total return for all shareholders, built on a consistent distributable income and capital growth strategy, through asset-backed lending," said VPC Specialty Lending Chair Kevin Ingram.
VPC Specialty shares were up 0.2% at 83.20 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Vpc Specialty (VSL)