Victory Park Capital Insights and Bakkt Merger proceeding - performance fees are coming from SPAC's

Hi All

With the excitement surrounding GQG some news from PAC's other boutiques can be missed. The two recent announcements from VPC are:

1. VPC viewpoints, highlights the company's approach to investing with ESG principles and elaborates investment approach from some of VPC's senior executives - https://www.victoryparkcapital.com/news/2021/09/16/vpc-viewpoints-september-2021/
2. The Bakkt merger will proceed before the end of 2021 calendar year with VPC's first SPAC VIH:NAS. This will generate performance fees for the business in PAC's first half result announced in February 2022 - https://www.businesswire.com/news/home/20210917005515/en/

The first half for PAC is looking very promising this financial year. The first half dividend should exceed the standard 10c based on the Bakkt merger alone. The first half will provide a good indication of what the other two proposed mergers will contribute to future earnings.

VPC is starting to wake up now, good to have GQG firing, but is great to have a second about to unleash earnings power. PAC management invested a lot of capital in VPC ($A94.6M/$US70M at the time) and due to growth VPC has reinvested a lot of earnings too. After a few footy seasons, looks like VPC is starting to turn into the investment we all expected it to be.

Best of Luck
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