Alternative asset management firm Victory Park Capital has held the final close of VPC Fund II, its distressed private equity and debt vehicle, at approximately $480m.
Limited partners consist of a broad group of top-tier institutional investors, endowments and foundations.
VPC Fund II will implement a distressed private debt and equity strategy to provide direct financing solutions to underserved or distressed US-based small cap and middle-market companies across a wide range of industries.
Led by Richard Levy, Brendan Carroll and Matthew Ray, the firm focuses on complex situations and seeks to build long-term sustainable value in its companies.
Victory Park is based in Chicago and has offices in Boston and San Francisco.