Victory Park raises $111m for private debt fund

The firm is targeting $400 million overall in its VPC Offshore Unleveraged Private Debt Fund and expects to collect more via separate accounts.  

Chicago-based private debt and equity manager Victory Park Capital (VPC) has collected $111 million for its VPC Offshore Unleveraged Private Debt Fund, a recent filing with the Securities and Exchange Commission shows. The fund has an overall target of $400 million, though a source close to the firm says VPC has raised more than $111 million via separate accounts and plans to close at over $400 million through the fund and those accounts.

Victory Park declined to comment as the fund is still in fundraising.

New York-based FPCG and Park Hill Group are listed as placement agents on the vehicle. The fund focuses on North American senior debt origination and was launched 12 months ago.

Victory Park’s most recently disclosed credit investment was a $50 million credit facility to The Credit Junction, an online provider of working capital financing and small and mid-sized enterprises (SMEs) in May. The firm has been one of the most active investors in the marketplace lending sector, making loans via a number of platforms as well as equity investments in and establishing partnerships with firms like Upstart, Avant and Funding Circle.

VPC is an independent advisor focused on credit and private equity investments in mid-market companies across a range of industries. The firm was founded in 2007 and is headquartered in Chicago, with additional offices in Los Angeles, New York and San Francisco.