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Pin to quick picksVpc Specialty Regulatory News (VSL)

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Market Cap: £29.91m
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INTRODUCTION OF PERFORMANCE FEE HURDLE

25 May 2017 09:58

RNS Number : 2262G
VPC Specialty Lending Invest. PLC
25 May 2017
 

VPC Specialty Lending Investments PLC (the "Company")

INTRODUCTION OF PERFORMANCE FEE HURDLE

 

The Board of VPC Specialty Lending Investments Plc and the Investment Manager, Victory Park Capital Advisors, LLC ("VPC"), have agreed on the introduction of a performance hurdle in respect of the performance fees payable to the Investment Manager. With effect from 1 May 2017, the payment of any performance fees to the Investment Manager will be conditional on the Company achieving at least a 5.0% per annum total return for shareholders relative to a 30 April 2017 High Water Mark.

 

This new arrangement more closely aligns the performance incentive for the Investment Manager with the interests of the Company's shareholders. The Board and Investment Manager are confident that the 5.0% per annum total return threshold will be exceeded over the medium term, given the ongoing reallocation of capital from marketplace loans to balance sheet loans which, to date, have consistently generated higher returns with lower volatility.

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Victory Park Capital

Brendan Carroll (Senior Partner and Co-Founder)

Gordon Watson (Partner, Investment Manager)

Cormac Leech (Principal)

 

via MHP Communications (below)

Jefferies International Limited

Tel: +44 20 7029 8000

Gary Gould

Andrew MorrisAndrew Davison

Stifel Nicolas Europe Limited

Tel: +44 20 7710 7600

Neil Winward

Mark Bloomfield

Gaudi Le Roux

MHP Communications

Tel: +44 20 3128 8100

Tim Rowntree

Mark Lunn

Kelsey Traynor

Email: vpc@mhpc.com

 

 

ABOUT VPC Specialty Lending Investments PLC:

VPC Specialty Lending Investments PLC invests in opportunities within the specialty lending market primarily through online lending platforms. The Company intends to generate an attractive total return for shareholders consisting of distributable income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily U.S., U.K., Australia and Europe) and credit bands.

 

Since 2010, the Company's investment manager, VPC, has been actively involved in the specialty lending marketplace and has made more than $5.2 billion of investments and commitments across a number of financial technology platforms, multiple geographies (U.S., U.K., Australia and Europe), products (consumer and business) and structures (whole loans and senior credit facilities).

 

Further information on VPC Specialty Lending Investments PLC is available at: http://vpcspecialitylending.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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