Victory Park Launches Tokenized Feeder for Asset-Backed Credit Fund

Victory Park Capital has launched a tokenized feeder fund providing access to its private asset-backed credit strategy, adding blockchain-based distribution and payment capabilities.

The AltsABF Tokenized Feeder Fund, known as VALTS, invests in Privacore VPC Asset Backed Credit Fund, or AltsABF, a continuously offered, non-listed interval fund launched in January.

VPC, a private credit and asset-backed finance manager affiliated with Janus Henderson, partnered with tokenization platform Tradable to develop VALTS. Tokens will initially be available on the Stellar blockchain.

“Since launching AltsABF earlier this year, we’ve focused on expanding access to private asset-backed credit,” said Kinan Hayani, a VPC partner.

VALTS expects to offer quarterly liquidity, subject to its governing documents and AltsABF’s quarterly repurchase offers. Those offers cover between 5% and 25% of AltsABF’s outstanding shares.

Investors will also be able to transfer tokens to other preapproved investors. Flexible custody arrangements will allow participants to choose how they hold their tokens.

Monthly income distributions are expected to be paid directly to investor wallets in stablecoin.

“The launch of VALTS demonstrates how blockchain infrastructure can create both new distribution opportunities and operational efficiencies,” said Alex Cordover, Tradable’s CEO.

The launch extends a partnership established in 2023, when VPC supported the development and introduction of Tradable’s platform. Tradable has since tokenized $3 billion in private credit.