Victory Park launches tokenized feeder for asset-backed credit fund

Victory Park Capital has launched a tokenized feeder fund that gives US investors on-chain access to its asset-backed credit strategy. The AltsABF Tokenized Feeder Fund, or VALTS, feeds into the Privacore VPC Asset Backed Credit Fund (AltsABF), a non-listed, closed-end interval fund that launched in January 2026, Alternative Credit Investor reported.

The Janus Henderson affiliate built the feeder with Tradable, a private asset marketplace and tokenization platform, and VALTS is available on the Stellar blockchain network. VALTS is priced on the net asset value of its investment in AltsABF, net of VALTS-level fees and expenses.

The firms said VALTS expects to offer quarterly liquidity and to pay monthly income distributions in stablecoin directly to investors' wallets.

Tradable has tokenized $3bn (£2.3bn) in private credit to date, the firms said. VPC supported the development and launch of Tradable's platform in 2023.

“Since launching AltsABF earlier this year, we've focused on expanding access to private asset-backed credit,” said Kinan Hayani, a partner at VPC. He called working with Tradable on VALTS “a natural next step in that strategy,” aimed at “the growing demand for on-chain products.”

Victory Park's parent, Janus Henderson, has already built scale in a different kind of wrapper. Its AAA CLO ETF drew $5.7bn of inflows this year and has topped $30bn, per PCD's prior reporting. That listed fund buys triple-A CLO paper with daily liquidity, at the other end of the spectrum from a private interval fund feeder.

The VALTS announcement did not state a target raise or assets raised for the feeder.