Invesco Perpetual’s Mark Barnett reduces VPC Specialty Lending fund stake

By Daniel Lanyon on 12th February 2018

Alternative Credit

The star fund manager sold some of his stake in the fund, reducing his holding.

Invesco Perpetual’s Mark Barnett reduces VPC Specialty Lending fund stake

The largest investor in the £337m VPC Specialty Lending fund, Mark Barnett of Invesco Perpetual, has sold some of his holdings in the listed alternative lending portfolio.

Barnett reduced his stake in VPC Specialty Lending by £4m, to just over 28.84 per cent (from 30 per cent) of its total share issuance last week at the same one analyst tipped the embattled portfolio for a turn around.

The VPC portfolio has been transitioning away from P2P lending exposure to ‘balance sheet’ loans over the past 18 months or so and with the “end game” in sight a Jefferies’ analyst believes the fund has reached an attractive entry point.

Barnett holds the investment trust in the Invesco Perpetual Income and High Income funds, two giant portfolios he took over after the departure of Neil Woodford from the fund management group four years ago.

The fund manager is a big backer of several alternative lending funds including P2P Global Investments, Honeycomb, Funding Circle SME Income, Hadrian’s Wall and Ranger Direct Lending.


AltFi Amsterdam Summit 2018

AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.

5th November 2018

Companies in this Article:

Funding Circle

More like this:

Alternative lender breaks even

3rd October 2018
Ryan Weeks

Private debt market grows to record size

7th February 2018
Daniel Lanyon