Janus Henderson’s AltsABF Fund Tops $350M in Seed Capital After GE Pension Investment

Janus Henderson, alongside its affiliates Victory Park Capital (VPC) and Privacore Capital, has secured more than $350 million in seed capital for its Privacore VPC Asset Backed Credit Fund, including a $100 million commitment from General Electric Pension Trust.

The fund, a continuously offered, non-listed interval vehicle, marks the firms’ first registered product in the space and is designed to provide investors with access to private asset-backed credit. Additional seed investors include CNO Financial Group and Corbin Capital Partners.

Structured with multiple share classes — Class I (ABFIX), Class D (ABFDX) and Class S (ABFSX) — the fund will offer quarterly liquidity through repurchase offers at net asset value.

The strategy focuses on investing in a diversified portfolio of private asset-backed credit instruments tied to physical, financial or other income-generating assets. Privacore serves as adviser to the fund, with VPC acting as sub-adviser.

The fund is now available on major wealth management platforms including Charles Schwab, Fidelity Investments and BNY Pershing, expanding access to registered investment advisors and their clients.

“As investors increasingly seek a broader, more diversified range of private credit opportunities than direct lending alone, specialized expertise becomes increasingly important. VPC’s proven asset-backed finance capabilities position us to help clients access this expanding market,” Ali Dibadj, chief executive officer of Janus Henderson, said.

The fund is distributed by Janus Henderson Distributors US LLC and administered by U.S. Bank Global Fund Services.