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Portfolio Update

22 Dec 2016 07:00

RNS Number : 5426S
VPC Specialty Lending Invest. PLC
22 December 2016
 

22 December 2016

 

VPC Specialty Lending Investments PLC

(the "Company")

PORTFOLIO UPDATE

 

On 21 December 2016, the Company sold its portfolio of marketplace loans originated through Funding Circle UK. The Company had valued the position at the expected sale price on 31 October 2016, at which time it represented 7.7% of the Company's Net Asset Value. Therefore, the Company expects the financial impact in the remainder of 2016 to be largely limited to certain transaction and other costs related to the sale. 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. The Company expects to re-invest substantially all of the proceeds into balance sheet investments, as well as into other strategic uses, in the first quarter of 2017.

 

The information contained in this announcement is inside information. 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Victory Park Capital

Brendan Carroll (Senior Partner and Co-Founder)

Gordon Watson (Partner, Investment Manager)

 

via MHP Communications (below)

Cormac Leech (Principal)

 

 

 

Jefferies International Limited

Tel: +44 20 7029 8000

Gary Gould

 

Alex Collins

 

 

 

Stifel Nicolas Europe Limited

Tel: +44 20 7710 7600

Neil Winward

 

Mark Bloomfield

 

Gaudi Le Roux

 

 

 

MHP Communications (PR Adviser)

Tel: +44 20 3128 8100

Mark Lunn

Tim Rowntree

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, Victory Park Capital, has been actively involved in the specialty lending marketplace and has made more than $4.5 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://vpcspecialtylending.com.

 

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