Chicago firm Victory Park Capital held the final close for its Asset Backed Opportunistic Credit strategy, raising $2.4 billion in assets including in separately managed accounts investing alongside the fund.
The investment team is focused on providing privately negotiated credit solutions to both emerging and established middle-market companies across select investment verticals in the U.S. and abroad. The fund leverages the 15-year-old firm’s longstanding relationships and proprietary channels to source compelling transactions and is often the sole lender.
“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,” said Victory Park Co-Founder and Senior Partner Brendan Carroll. “We are gratified by the strong support shown by the institutional investor community for Victory Park’s strategy.” At the end of 2021, the firm had over $4 billion in assets under management.
In addition to the limited partner commitments that included pension funds, endowments and family office capital, the fund has secured a term credit facility to strategically complement its investable capital.
“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,” said Jeff Schneider, chief operation officer and partner.