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Schroders buys large stake in VPC Specialty Lending
The asset manager has bought the shares in the closed-ended fund early this week.
Asset management giant Schroders has entered the alternative credit space, buying a 5.2 per cent stake in the £294m Victory Park Capital Specialty Lending fund this week.
Launched back in March 2015, the fund invests in alternative lending platform assets. It started off by investing in p2p loans but has shifted to investing mainly through balance sheet lenders.
Embattled fallen star of the UK investing scene, Neil Woodford had to exit his entire holding in the VPC Specialty Lending fund recently to meet redemptions. Woodford owned 16.43 per cent of VPC Specialty Lending, equating to £49m.