Victory Park backs Reich Brothers

The Chicago-based firm provided funding to Reich Brothers, a transactional advisory business. 

Victory Park Capital has backed Reich Brothers, a capital asset and surplus solutions advisory business, for an undisclosed amount, the firm announced in a statement Thursday.

“We believe there is a strong market opportunity to create a world-class platform within the surplus and capital asset liquidation sector,” said Victory Park vice president Derek Ferguson in a statement.

Victory Park specialises in providing private debt and equity financing to mid-market companies. The firm puts its capital to work across a variety of transaction types as well as distressed situations.

Victory Park declined to comment beyond the release.

Reich Brothers assists clients with asset transactions for machinery and equipment, unique industrial real estate and intellectual property, according to the statement. The firm operates within the defense, manufacturing, industrials, consumer packaged goods, textiles, energy, pharmaceuticals and telecommunications industries.

Earlier this year, Victory Park provided a $25 million credit facility for AvantCredit, an online lending company that provides $1,000 to $10,000 loans to individuals. That investment occurred only a month after the firm made a $75 million debt investment in online financing company Kabbage alongside Thomvest Ventures.

Victory Park invests in a variety of sectors, including industrials, services and consumer products. The firm was founded in 2008 by Brendan Carroll, Richard Levy, Matthew Ray and David Valentine. The co-founders had been members of multi-strategy investment firm Magnetar Capital.