VPC Specialty Lending Investments PLC (VSL), the UK-listed investment trust focused on asset-backed lending, has announced that RSM UK Audit LLP will replace PricewaterhouseCoopers LLP as its external auditor from the financial year ending 31 December 2027. The Board approved the appointment on 11 November 2026, following a competitive tender process that commenced in June 2026 and concluded with a final selection by the Audit and Valuation Committee on the same date. Shareholder approval is required, and a resolution will be put to the vote at the Annual General Meeting scheduled for June 2027. PwC will continue in its role until that meeting, including overseeing the audit of the financial year ending 31 December 2026.

Key Points

  • VPC Specialty Lending Investments PLC (VSL) — UK-listed investment trust focused on asset-backed lending
  • RSM UK Audit LLP selected as incoming external auditor, replacing PricewaterhouseCoopers LLP from the financial year ending 31 December 2027
  • Competitive tender launched in June 2026 under the Companies Act 2006; three firms shortlisted and presented in early October 2026; final selection made 11 November 2026
  • Investors should watch the June 2027 AGM, where shareholders will vote on the formal resolution to appoint RSM

Competitive Tender Process Under Companies Act 2006 Led to RSM Selection

The audit tender was initiated in June 2026 in accordance with the Companies Act 2006, with several firms invited to participate in a review of the Company's external audit arrangements for the year ending 31 December 2027. Participating firms were asked to confirm interest by mid-July 2026. Following an initial assessment, three firms were shortlisted and invited to present to the Audit and Valuation Committee in early October 2026. After a thorough evaluation, the Committee made its final recommendation on 11 November 2026, which the Board approved on the same date, selecting RSM UK Audit LLP as the preferred candidate.

PwC to Remain as Auditor Through the 31 December 2026 Financial Year

Despite the Board's approval of RSM's appointment, PricewaterhouseCoopers LLP will continue as the Company's external auditor until the conclusion of the June 2027 Annual General Meeting. This continuity means PwC retains responsibility for auditing the financial year ending 31 December 2026. The announcement states the Board extended its thanks to PwC for its service to the Company. The formal transition to RSM is contingent upon shareholders passing the relevant resolution at the AGM, meaning the change is not yet legally effective and remains subject to that vote.

VSL's Asset-Backed Lending Focus and Diversified Credit Portfolio

VPC Specialty Lending Investments PLC is a UK-listed investment trust that focuses on asset-backed lending to both emerging and established businesses, with the objective of generating long-term, sustainable income for shareholders. The Company invests across various industries and geographies, providing access to a diversified portfolio of opportunistic credit investments. These are originated by non-bank lenders, with a particular emphasis on the technology-enabled lending sector. The investment manager is Victory Park Capital, with Winterflood Securities Limited acting as the Company's broker and MUFG Corporate Governance Limited serving as Company Secretary.