Victory Park Capital Advisors, LLC, the investment manager to VPC Speciality Lending, has agreed an amendment to the investment management agreement with the Company. Under the revised agreement, Victory Park Capital Advisors will invest 20 per cent. of its monthly management fee received from the Company into shares in the Company at the prevailing market price on an ongoing basis, provided that the shares are trading at a discount to the prevailing net asset value and the Investment Manager does not hold more than 10 per cent. of the voting rights of the Company.
Brendan Carroll, Senior Partner of Victory Park Capital Advisors, commented: “We have a strong belief in the investment proposition of VPC Speciality Lending plc. We have elected to invest 20 per cent. of our monthly management fee in the shares to demonstrate our commitment and confidence.”
VSL : VPC Speciality Lending manager to reinvest part of fee