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Värde Partners closes $2 bln for fund

Värde Partners has raised $2 billion in the final close of its latest fund focused on distressed and credit-oriented investments. Most of the pool’s LPs backed the firm’s previous funds.

Värde Partners Enables SAV Exit

Global fund manager Värde Partners has agreed to acquire SAV Credit Limited, a UK-based specialist credit card provider, from majority shareholders Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners in a deal worth £472 million. Palamon, Electra, and Morgan Stanley have supported the development of SAV from a start-up in 2002. Värde Partners first partnered with SAV Credit in March 2010 and is acquiring the business as part of its strategic growth plans.

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