Next Edge Capital Corp.

Next Edge Capital Corp.

November 10, 2015 17:01 ET

Next Edge Capital Corp. Announces the Second Closing of VPC Specialty Lending Fund

TORONTO, ONTARIO--(Marketwired - Nov. 10, 2015) -

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Next Edge Capital Corp. ("Next Edge") announced today the successful second closing of the VPC Specialty Lending Fund (the "Fund"), available exclusively through Westcourt Capital Corp. ("Westcourt"). Next Edge is the manager and trustee of the Fund, which holds an interest in underlying private debt investments that are managed by Chicago-based Victory Park Capital ("VPC"). Subsequent closings will occur through the remainder of 2015 and all capital raised will be deployed to new and existing VPC-identified investment opportunities.

The investment objective of the Fund is to provide unitholders with an attractive total return comprised of income and capital growth through exposure to investments in specialty lending opportunities within the portfolio. The Fund is available to accredited investors in Canada and has a term of approximately three years. The portfolio will be comprised primarily of investments in the specialty lending market through origination platforms, as well as privately negotiated loans, to lower middle market companies. It will invest across various platforms, asset classes and credit bands, primarily in the U.S. and Europe. Direct investments may include consumer and small and medium-sized business loans, advances against corporate trade receivables and/or purchases of corporate trade receivables originated by platform.

David Kaufman, president and CEO of Westcourt, said: "As a firm we are focused on providing our institutional and high-net-worth clients with attractive risk-adjusted yields in a low interest-rate environment. VPC has an impressive track record of deploying capital across market cycles in a manner accretive to its stakeholders and we believe their experience and expertise within the fast growing specialty finance sector will be very beneficial to our investors. Working with Next Edge and VPC has provided an excellent opportunity to connect with like-minded investment managers who share a similar investment philosophy."

Toreigh Stuart, CEO of Next Edge, added: "We are delighted to partner with Westcourt and the ability to provide their clients with access to capital. The Fund provides exposure to the portfolio that is intended to be managed in substantially the same manner as VPC Specialty Lending Investments PLC, a recently listed U.K. company."

Jordan Allen, chief operating officer of VPC, said: "We are pleased with our distribution arrangement with Next Edge in Canada and this exclusive offering of the Fund with Westcourt. We look forward to providing Canadian investors with access to specialty lending opportunities through future product launches with Next Edge."

About Next Edge Capital Corp.

Next Edge was formed through a management spin out of the Canadian office of Man Investments Canada Corp. The management team opened the Canadian office of Man Group plc. ("Man") in 2006 and has raised over CDN $1.0 billion since inception. Next Edge continues to support a number of the Canadian retail products offered by Man.

Next Edge searches the world for investment managers and strategies that aim to deliver robust risk-adjusted performance. The people and approaches we discover may not be well known in Canada, but we think they provide something remarkable - access to what's next. Our job is to cut through all of the noise of short term performance and extra risk-taking to discern real talent. Our clients appreciate bring first to see compelling new approaches even though some are complex or are limited in capacity. For more than a decade, the Next Edge management team has provided rare access to unique strategies before they became widely known.

Further information can be found at www.nextedgecapital.com.

About Victory Park Capital

Victory Park Capital (VPC) is a privately held registered investment advisor dedicated to alternative investing through the management of its investment vehicles. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries. Whether as a lender or a control investor, VPC seeks to identify opportunities where it believes the potential for reward outweighs the risks entailed. Founded in 2007, VPC is headquartered in Chicago with additional resources in Los Angeles, New York and San Francisco. For more information visit www.victoryparkcapital.com.

Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer to provide investment services.

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