VPC Speciality Lending has published its first set of figures covering the period from launch to 30 June 2015. The net asset value at the end of the period was 99.62p and the share price was 102p. The first interim dividend of 0.9p was declared in August.
The proceeds of the IPO had been fully deployed by 22 July (87% at the end of June). As at 30 June 2015, the Company’s investments were diversified with exposure to 16 Platforms (directly and indirectly through investments in other funds) originating consumer and small business loans across the U.S., U.K. and Europe.
Consumer exposure accounted for 74% of the invested portfolio, while small business exposure accounted for 26%. Investments in U.S. Platforms accounted for 85% of the invested portfolio, with the remainder being predominately UK-based loans. As part of these investments, the Company has equity exposure to six Platforms through equity securities or convertible notes.
The names of these platforms aren’t disclosed in the statement.
VSL : VPC Speciality Lending releases first results